"Bitcoin futures market sees $300 million inflow following Powell's remarks... sharp surge in an instant"
Suehyeon Lee
Summary
- Following remarks by Fed Chair Jerome Powell, it was reported that $300 million flowed into the Bitcoin futures market in a short period.
- It was revealed that Bitcoin open interest surged to $13.3 billion.
- This was evaluated as an example showing that major statements can immediately trigger market volatility.
Following Fed Chair Jerome Powell's Jackson Hole speech, there was an explosive inflow of capital into the Bitcoin (BTC) futures market.
On the 22nd (local time), CryptoQuant author Darkfost reported, "As Fed Chair Powell suggested the possibility of a rate cut in September, a surge of buying pressure from investors led to approximately $300 million being funneled into the Binance Bitcoin futures market in just 15 minutes."
They added, "At the same time, Bitcoin open interest soared to $13.3 billion. This case demonstrates how quickly a major statement impacting the market can trigger volatility."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
![[Analysis] "XRP risks repeating the 2022 rout…most short-term investors in the red"](https://media.bloomingbit.io/PROD/news/845f37bb-29b4-4bc5-9e10-8cafe305a92f.webp?w=250)
![[Exclusive] “Airdrops also taxable”... Authorities to adopt a ‘comprehensive approach’ to virtual assets](https://media.bloomingbit.io/PROD/news/4bde9dab-09bd-4214-a61e-f6dbf5aacdfb.webp?w=250)