Bitcoin Futures Surge: Billions at Stake as Market Eyes Fed

The cryptocurrency market is buzzing, with a critical week ahead for the US Federal Reserve. One key indicator showing this anticipation: Bitcoin futures open interest is sharply rising, signaling billions of dollars in leveraged bets. This surge reflects traders’ optimism that the Fed will signal or implement an interest rate cut at its December meeting. But what does this rise signify and what risks are traders facing?