Sep 27th, Bitcoin Weekly Report
#1. Bitcoin Weekly News Summary
Bitcoin and ether slide as China intensifies crackdown on cryptocurrencies
Bitcoin and ether tumbled Friday, with traders rattled by tough talk out of China. The price of bitcoin fell about 5% to $42,496.12, according to Coin Metrics data. Ether, the second-largest digital currency, dropped 7% to $2,921.53.
https://www.cnbc.com/2021/09/24/bitcoin-ethereum-sink-as-china-intensifies-crypto-crackdown.htmlJPMorgan Warns Big Investors Are Suddenly Dumping Bitcoin For Ethereum Amid A $150 Billion Crypto Price Crash
The bitcoin price is more than 15% lower than where it began the month, with ethereum and other major cryptocurrencies falling even further. This week, China sent bitcoin tumbling further after it declared all cryptocurrency-related financial activities illegal — wiping $150 billion worth of value from the combined crypto market.
https://www.forbes.com/sites/billybambrough/2021/09/26/jpmorgan-warns-big-investors-are-suddenly-dumping-bitcoin-for-ethereum-amid-a-150-billion-crypto-price-crash/?sh=2f6a6dc213f3You can now get paid in bitcoin to use Twitter
Twitter on Thursday announced it will now allow users to tip their favorite creators on the social network using bitcoin. The company introduced tipping as a test feature back in May as a way to experiment with helping creators earn payments from their followers for the content they post on Twitter. The company announced Thursday that its Tips feature will now roll out globally to all Apple iOS users this week and will become available for Android users in the coming weeks.
https://www.cnbc.com/2021/09/23/you-can-now-get-paid-in-bitcoin-to-use-twitter.html
#2. Bitcoin Open Interest at major exchange
Binance: It rose by $100 million to about $1.9 billion.
BitMEX: Over the weekend, it rose by $100 million to about $620 million.
Bybit: It kept at a steady price of about $1 billion.
#3.Bitcoin Dominance
Bitcoin dominance rose a bit and is currently at the level of 42.3%.
#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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