Aug 9th, Bitcoin Weekly Report

#1. Bitcoin Weekly News Summary

Bitcoin’s biggest public holder MicroStrategy to buy more BTC despite $690 million in impairment losses
The company views acquiring and hold bitcoin as a dependable store of value supported by a robust, public, open-source architecture untethered to sovereign monetary policy.
https://www.financialexpress.com/market/bitcoins-biggest-public-holder-microstrategy-to-buy-more-btc-despite-690-million-in-impairment-losses/2306676/

UK’s Standard Chartered to Offer Crypto Brokerage Services in Ireland
British bank Standard Chartered will offer cryptocurrency broker services in Ireland through its Zodia Custody subsidiary.
https://news.bitcoin.com/uks-standard-chartered-to-offer-crypto-brokerage-services-in-ireland/

Ethereum Spikes After New Upgrade As Its Crypto Market Dominance Gains An Edge On Bitcoin
Ether surged Thursday after the long-awaited launch of a software upgrade meant to help the cryptocurrency transition to a more environmentally friendly blockchain network — a development that alongside surging mainstream adoptions has helped the world’s second-largest cryptocurrency far outperform larger rival Bitcoin.
https://www.forbes.com/sites/jonathanponciano/2021/08/05/ethereum-spikes-after-new-upgrade-as-its-crypto-market-dominance-gains-an-edge-on-bitcoin/?sh=1f3eaf3e53b7

#2. Bitcoin Open Interest at major exchange

Binance: It increased $100 million and it’s about $2.38 billion.

Bybit: It increased $2,000 and it’s about $1 billion.

BitMEX: It increased $2,000 and it’s about $670 million.

#3.Bitcoin Dominance

Bitcoin Dominance rose about 1% to 46.2%.

#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.

More from MyTradingInfo
Visit www.mytradinginfo.com for the update and real-time data and statistics.

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MyTradingInfo offers real-time market trend statistics for cryptocurrency such as Bitcoin.