Sep 13th, Bitcoin Weekly Report
#1. Bitcoin Weekly News Summary
Ukraine becomes the latest country to legalise Bitcoin and cryptocurrencies
Ukraine’s parliament has adopted a new law that legalises and regulates cryptocurrency and other virtual assets like tokens.
https://www.euronews.com/next/2021/09/09/ukraine-becomes-the-latest-country-to-legalise-bitcoin-and-cryptocurrenciesFinding a new home: Bitcoin miners settling down after China exodus
Countries vie for cryptocurrency miner business as Chinese miners move to greener pastures. Here’s where they are ending up.
https://cointelegraph.com/news/finding-a-new-home-bitcoin-miners-settling-down-after-china-exodusBitcoin down as Sweden’s central bank compares it to ‘trading in stamps’
Cryptocurrencies were broadly down on Friday as Sweden’s central bank governor said bitcoin could eventually collapse.
https://finance.yahoo.com/news/bitcoin-price-cryptocurrencies-sweden-trading-stamps-ethereum-100929220.html
#2. Bitcoin Open Interest at major exchange
Binance: It rose by $100 million and is now about $2.2 billion.
BitMEX: It rose to $61,000 over the weekend, but fell immediately and is now steady at $58,000.
Bybit: It has fallen slightly and is now about $1.16 billion.
#3.Bitcoin Dominance
Bitcoin dominance slightly declined to about 41.25%.
#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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