Nov 02, Bitcoin Weekly Report

MyTradingInfo
3 min readNov 2, 2021

#1. Bitcoin Weekly News Summary

Burger King, Robinhood serving up ‘side of crypto’ with Bitcoin, Dogecoin, Ethereum giveaway
Burger King and Robinhood Markets are serving up a “side of crypto” as part of a new promotion.
https://www.foxbusiness.com/markets/burger-king-robinhood-bitcoin-dogecoin-ethereum-giveaway

A Coinbase user lost $11.6 million in under 10 minutes after falling for a fake-notification scam, the US attorney’s office said
A federal judge this month approved a warrant to claw back more than $600,000 in bitcoin from a Huobi Global wallet, after federal investigators said it was part of an $11.6 million haul stolen from a Coinbase account.
https://www.businessinsider.com/huobi-global-warrant-seeks-102-bitcoin-coinbase-theft-doj-2021-10

Fortress Technologies Buys 4,500 Bitcoin Mining Machines From Bitmain
Bitcoin mining company Fortress Technologies has ordered 4,500 Bitmain Antminer S19j Pro machines as it seeks to capture a greater share of mining revenue.
https://www.coindesk.com/business/2021/11/01/fortress-purchases-4500-bitcoin-mining-machines-from-bitmain/

Bitcoin Hash Rate

#2. Bitcoin Open Interest at major exchange

It rose by $100 million to around $3.28 billion.

It fell by $6,000 to the $520 million level.

It rose by $300 million to about $2.13 billion.

#3.Bitcoin Dominance

Bitcoin Dominance rose 2% to about 43.9%.

#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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MyTradingInfo

MyTradingInfo offers real-time market trend statistics for cryptocurrency such as Bitcoin.