May,10th) Bitcoin Weekly Report
#1. Weekly News Summary
Bitcoin Bounces Back to $55K as Yellen Backtracks on Rate Hike Comments
“Rate hikes are not something I’m predicting or recommending,” Yellen later said.
https://www.coindesk.com/bitcoin-bounces-back-to-55k-as-yellen-backtracks-on-rate-hike-commentsBitcoin Coming to Bank Near You Thanks to NYDIG and FIS
Cryptocurrency custody firm NYDIG has teamed up with fintech behemoth Fidelity National Information Service to allow U.S. banks to offer bitcoin (BTC) in 2021.
https://finance.yahoo.com/news/bitcoin-coming-bank-near-thanks-164000585.html‘Dogefather’ Elon Musk jokingly calls token a hustle as price falls under $0.50
Though Musk’s mother briefly mentioned the token during the Saturday Night Live opening monologue, the Tesla CEO followed up with an in-depth look for his Weekend Update segment.
https://cointelegraph.com/news/dogefather-elon-musk-jokingly-calls-token-a-hustle-as-price-falls-under-0-50
#2. Bitcoin Open Interest at major exchanges
Binance: Open Interest at Binance kept around 18.5 billion dollars
BitMEX: There is a rising trend and it is about 8 billion dollars
bybit: It reached once at 22 billion dollars and it is not around 21 billion dollars
#3.Bitcoin Dominance
Bitcoin dominance showed a downtrend over the week and it is now around 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.
More from MyTradingInfo
Visit www.mytradinginfo.com for the update and real-time data and statistics.
Nasdaq index, Gold futures, Open interest at major exchanges, there are more factors you can discover and compare the data at MyTradingInfo.com
