Bitcoin and other cryptocurrencies were under pressure on 5 September. While stock and bond markets were closed for the Labor Day holiday in the US, the 24/7 nature of crypto means no respite from volatility for investors.

The price of bitcoin fell less than 1% over the past 24 hours to $19,700, having climbed above $20,300 on 2 September before falling back, in line with a tumble in the stock market. Trading below the key $20,000 level, the largest digital asset is now outside of the $20,000 to $25,000 range in which it has stagnated for much of the summer after a dramatic selloff in mid-June knocked bitcoin down from $30,000.