A few minutes after Fed Chair Jerome Powell gave his speech at Jackson Hole, hinting that maybe-just maybe-there could be a rate cut in our near future, Binance futures went *wild*. Crypto traders, presumably in their pajamas with coffee in hand, sent $300 million pouring into Binance futures in the span of 15 minutes. You can almost hear the collective sound of keyboards clacking in glee. 🎉💰
According to CryptoQuant, this wasn’t just a couple of traders sneaking in some last-minute bets. Binance’s BTC Open Interest (OI) jumped to about $13.3 billion. Yeah, you read that right. Meanwhile, the total crypto OI surged by a measly 8.5 percent to $215 billion. Small change, right? 😎
And, because things weren’t crazy enough, more than $656 million in crypto derivatives were liquidated in just the last 24 hours. Liquidated. I mean, I can’t even liquidate my old clothes, and these guys are tossing around millions. 🙄💸
Bitcoin Price Rebounds on Possible Fed Rate Cuts in 2025
Following Powell’s remarks, Bitcoin decided it was time to *rebound*, hitting that sweet spot of bullishness. It surged over 4% on Friday to trade above $117k, as if it had suddenly remembered it was supposed to be a leading digital asset, not just an online gambling chip. 🤷♂️ The altcoin gang wasn’t left out either, as Ethereum (ETH) led the charge, pushing the total crypto market towards a $4.12 trillion valuation. If you’re keeping score, that’s a lot of zeros. 🔥
President Donald Trump, as if on cue, nodded in approval of the rate cut, but he couldn’t help but point out that this should’ve happened a year ago. It’s like he was channeling every armchair economist ever. “The policy should’ve been adjusted a while ago,” Powell said, trying to play it cool. Oh, Jerome, always the diplomat. 🕶️
Meanwhile, Kalshi traders seem to think September is the month for a rate cut, with their bets on a 25bps reduction climbing to 79%. As for keeping the rate steady? Well, that’s a less popular bet now, with only 18% of traders still on board. Either way, the financial world is just a big casino, and you’re all invited to place your bets. 🎰
What’s Next?
With Bitcoin’s latest surge, it’s looking like whale investors are back in the game. The question remains: will Bitcoin keep pushing upward, or will it fall flat and leave us all wondering if we should’ve just bought some solid gold? If Bitcoin can manage to stay above $120k, the dream of a fresh bull market might just be within reach. Otherwise, we’re looking at a possible dip back down to $108k. Stay tuned! 📉🔮
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2025-08-22 22:13