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.
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.
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.
#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.
Bitcoin Dominance rose about 1% to 46.2%.
#4. Bitcoin Price and its correlations
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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