Aug 17th, Bitcoin Weekly Report
#1. Bitcoin Weekly News Summary
The crypto market topped $2 trillion for the first time since May
Bitcoin topped $48,000 on Saturday, which lifted the value of the entire cryptocurrency market above $2 trillion for the first time since May.
https://www.cnbc.com/2021/08/16/crypto-news-btc-doge-rally-microsoft-may-use-ethereum-for-antipiracy.htmlWalmart is the latest Fortune 500 Company hiring a cryptocurrency expert
Walmart is hiring a cryptocurrency expert to potentially expand its virtual payment options as a growing number of Fortune 500 companies warm up to digital currencies.
https://www.cnbc.com/2021/08/16/walmart-is-hiring-a-crypto-expert-amid-growing-interest-in-bitcoin.htmlBitcoin Fans Are Suddenly a Political Force
A clash over tax rules for digital currencies like bitcoin turned into a political coming-of-age moment for the cryptocurrency industry, galvanizing a usually fractious coalition of investors, exchanges, financiers and social-media influencers.
https://www.wsj.com/articles/bitcoin-fans-are-suddenly-a-political-force-11629115380
#2. Bitcoin Open Interest at major exchange
Binance: It increased $200 million and it is about $2.6 billion dollars.
BitMEX: It dropped $3,000 and it’s about $702 million.
Bybit: It increased $100 million to $1.2 billion.
#3.Bitcoin Dominance
Bitcoin Dominance is at the level of 44%.
#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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