Oct 25, Bitcoin Weekly Report

MyTradingInfo
3 min readOct 25, 2021

#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.
https://www.cnbc.com/2021/10/21/peter-thiel-on-bitcoin-i-feel-like-ive-been-underinvested-in-it.html

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.
https://www.cnbc.com/2021/10/20/bitcoin-miner-stronghold-digital-mining-makes-nasdaq-debut.html

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.
https://finance.yahoo.com/news/bitcoin-dominance-rate-btcd-pulls-165822073.html

Bitcoin Mining Difficulty

#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.

#3.Bitcoin Dominance

Bitcoin Dominance fell by 1% to about 45%.

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