May,31st) Bitcoin Weekly Report
#1. Weekly News Summary
Bitcoin is tumbling at the end of its worst month in nearly 10 years
Bitcoin investors have sold in May. It remains to be seen if they’re going away for good.
https://edition.cnn.com/2021/05/28/investing/bitcoin-prices/index.htmlUS, China regulators have a problem with bitcoin. Hong Kong, Singapore may have solutions
Bitcoin is taking a beating. Tesla no longer accepts it, China is clamping down and the US is warning about how cryptocurrencies ‘facilitate illegal activities’
https://www.scmp.com/week-asia/economics/article/3135327/us-china-regulators-have-problem-bitcoin-hong-kong-singaporeStay away from Bitcoin, says JPMorgan CEO Jamie Dimon — here is why
JPMorgan CEO also said that the firm is “debating” whether it should make bitcoin available in some “safe” way.
https://www.moneycontrol.com/news/business/cryptocurrency/stay-away-from-bitcoin-says-jpmorgan-ceo-jamie-dimon-here-is-why-6958761.html
#2. Bitcoin Open Interest at major exchange
Binance: It has once reached $1.43 billion over the weekend and currently back to $1.3 billion.
Bybit: It keeps at the level of $950 million.
BitMEX: It keeps at the level of $450 million.
#3.Bitcoin Dominance
Bitcoin Dominance keeps a steady level of around 43–44% over the week.
#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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