Nov 08, Bitcoin Weekly Report
#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.
https://www.reuters.com/technology/crypto-rally-lifts-ether-new-record-bitcoin-near-3-week-high-2021-11-08/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.
https://www.bbc.com/news/business-59166017Bitcoin Dominance Weakens as Altcoins Rally
Solana’s SOL and ether both hit record highs during the week, while bitcoin was little changed.
https://www.coindesk.com/markets/2021/11/05/bitcoin-dominance-weakens-as-altcoins-rally/
#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
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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