Oct 25, Bitcoin Weekly Report
#1. Bitcoin Weekly News Summary
Tech billionaire Peter Thiel says he ‘underinvested’ in bitcoin
Peter Thiel, the co-founder of PayPal and Palantir, has said he feels like he’s underinvested in bitcoin as the world’s most popular cryptocurrency climbed to an all time high of just over $66,000 per coin.
Pennsylvania bitcoin miner jumps 52% in Nasdaq debut as bitcoin price hits record
Shares of Stronghold Digital Mining jumped 52% in their first day of trading on Wednesday, as investors show enthusiasm for nascent companies tied to cryptocurrencies.
Bitcoin Dominance Rate (BTCD) Pulls Back, Allowing Altcoins to Flourish
The Bitcoin Dominance Rate (BTCD) has possibly reversed trend after its Sept 10 low and began a new upward movement.
#2. Bitcoin Open Interest at major exchange
Binance: It fell by 100 million dollars to about 3.45 billion dollars.
BitMEX: It fell to $630 million over the weekend, but it rose again and is now around $670 million.
Bybit: It fell by $4,000 to about $1.86 billion.
Bitcoin Dominance fell by 1% to about 45%.
#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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