June 21st Bitcoin Weekly Report

3 min readJun 21, 2021

#1. Bitcoin Weekly News Summary

China steps up crackdown on bitcoin mining industry
Many Bitcoin mines in Southwest China’s Sichuan Province — one of China’s largest cryptocurrency mining bases — were closed as of Sunday, according to after local authorities ordered a halt to mining in the region

Coinbase Cofounder Issues Serious Crypto Price Warning As Bitcoin ‘Death Cross’ Fear Spreads
Bitcoin and cryptocurrency prices have struggled this week with the crypto market’s combined value slipping under $1.5 trillion — down from $2.5 trillion in May.

Billionaire Bitcoin Investor Mark Cuban Calls For Crypto Regulation After Price Of Radical New Token Suddenly Crashes To Zero
Mark Cuban, the billionaire investor and owner of the Dallas Mavericks that has begun dabbling in bitcoin and crypto, has called for regulation of burgeoning decentalized finance (DeFi) space.


#2. Bitcoin Open Interest at major exchange

Binance: It steadily fell, and currently maintains at the level of $1.9 billion.

Bybit: It was once down to $1 billion and then bounced back and at the level of $1.02 billion.

BitMEX: It fell about $4,000 dollars overnight, but it rose again, now maintains at $510 million.

#3.Bitcoin Dominance

Bitcoin dominance maintains about at the level of 44%.

#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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