Bitcoin Open Interest (OI) Rises $1.3B After Fed Releases ‘Dovish’ Minutes
🔺 Bitcoin open interest (OI) has increased by $1.26 billion after the US Federal Reserve released its ‘dovish’ minutes on August 21, hinting at a possible rate cut in September. As of August 22, Bitcoin futures OI stood at $31.92 billion. Despite the surge, traders remain divided, with 50.63% long and 49.37% short. Analysts predict that falling interest rates could prompt investors to shift to riskier assets like Bitcoin, setting the stage for a volatile Q4.
✅ Key Takeaways:
🔹 OI increased by $1.26 billion in 12 hours.
🔹 Longs slightly outnumbered shorts.
🔹 Analysts predict a potentially explosive Q4 for Bitcoin.
❓ What's Next?
🟢 Investors should keep a close eye on the upcoming Fed decisions and Bitcoin price action as volatility is expected.
🔗 Source: https://t.me/pinews2024/2028
