26 July Bitcoin Weekly Report
#1. Bitcoin Weekly News Summary
Bitcoin Moves To Again Test A Key Resistance Level
The price of the cryptocurrency dropped below the key average in May of this year and the level (currently $35,115) has now become resistance.
https://finance.yahoo.com/news/bitcoin-moves-again-test-key-144719209.htmlAmazon may soon allow users to pay in cryptocurrencies like Bitcoin
Amazon may allow users to pay in cryptocurrencies like Bitcoin soon as the e-commerce giant is hiring a digital currency and blockchain product lead for its payments team.
https://economictimes.indiatimes.com/markets/cryptocurrency/amazon-may-soon-allow-users-to-pay-in-cryptocurrencies-like-bitcoin/articleshow/84727484.cmsBitcoin is key to the future of Twitter, Jack Dorsey says
The Twitter CEO sees opportunities to integrate Bitcoin into services such as commerce, subscriptions and new features such as Twitter Tip Jar and Super Follows.
https://cointelegraph.com/news/bitcoin-is-key-to-the-future-of-twitter-jack-dorsey-says
#2. Bitcoin Open Interest at major exchange
BitMEX: It increased $2,000 and it is now about $590 million.
Bybit: It increased $100 million and up to $1.1 billion.
Binance: It rose to $2.5 billion.
#3.Bitcoin Dominance
Bitcoin Dominance remains at 45.6% on a similar level to last week’s.
#4. Bitcoin Price and its correlations
Correlation
The value of correlation may vary from -1 to 1. The closer the value gets to 1, the higher the two assets are associated and moving in the same direction. When it is closer to -1, it is vice versa. Zero in value means there is no correlation at all.
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