Dec 13, Bitcoin Weekly Report
#1. Bitcoin Weekly News Summary
Bitcoin ‘founder’ wins right to keep billions of dollars
A computer scientist who claims he invented Bitcoin has won a court case allowing him to keep a cache of the cryptocurrency worth billions of dollars.
https://www.bbc.com/news/business-59571277Bitcoin mining has totally recovered from Chinese ban
Bitcoin mining has totally recovered from the Chinese crypto crackdown that took more than half the world’s miners offline virtually overnight earlier this year.
https://www.cnbc.com/2021/12/10/bitcoin-network-hashrate-hits-all-time-high-after-china-crypto-ban.htmlDoes Jack Dorsey’s Twitter Resignation Mean He’ll Focus 100% on Bitcoin?
Jack Dorsey stepped down from his position as Twitter CEO last week, sparking speculation the crypto enthusiast would now dedicate himself entirely to Bitcoin (BTC).
https://www.fool.com/the-ascent/cryptocurrency/articles/does-jack-dorseys-twitter-resignation-mean-hell-focus-100-on-bitcoin/
#2. Bitcoin Open Interest at major exchange
Binance: It rose slightly to about 2.1 billion dollars.
BitMEX: It’s steady at around $370 million.
Bybit: It’s steady at around $880 million.
#3.Bitcoin Dominance
Bitcoin Dominance fell 1% to around 40%.
#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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