Binance Futures Surge After Powell Hints at Rate Cut

A sharp increase in Binance Bitcoin futures trading volume occurred shortly after Fed Chair Jerome Powell’s remarks about a potential rate cut during his speech at the Jackson Hole symposium. Market analysis reveals that Binance futures products saw a $300 million jump within 15 minutes, according to CryptoQuant. This surge coincided with a significant rise in Bitcoin Open Interest (OI) by over 8.5 percent, reaching around $13.3 billion. The total crypto OI also saw an 8.5% increase to approximately $215 billion as a result of this shift.