Nov 08, Bitcoin Weekly Report

2 min readNov 8, 2021

#1. Bitcoin Weekly News Summary

Crypto rally lifts ether to new record, bitcoin to near 3-week high
Bitcoin rose to a two-and-a-half-week peak on Monday and ether climbed to a fresh record as cryptocurrencies ride higher on a wave of momentum, flows, favourable news and inflation fears.

New York’s next mayor wants to be paid in Bitcoin
Eric Adams, mayor-elect for New York City, has said he would like his first three paycheques in Bitcoin.

Bitcoin Dominance Weakens as Altcoins Rally
Solana’s SOL and ether both hit record highs during the week, while bitcoin was little changed.

#2. Bitcoin Open Interest at major exchange

Binance: Over the weekend, it rose by 300 million to 3.7 billion dollars.

BitMEX: It rose $3,000 to $51 million.

Bybit: It stayed at the level of $2.2 billion.

#3.Bitcoin Dominance

Bitcoin Dominance rose 1% to 43.2%.

#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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