1. Confidence in September Rate Cut
2. Strategic Moves with Bitcoin and Ethereum
3. Quote from Markus Thielen

After the Fed released its July FOMC minutes, Bitcoin futures traders added over a billion dollars to Bitcoin Open Interest.

Confidence in September Rate Cut

Some analysts believe the July FOMC minutes confirm the September rate cut. An increase in Bitcoin OI indicates greater confidence among investors in predicting Bitcoin's price direction, whether up or down.

Strategic Moves with Bitcoin and Ethereum

According to 10X Research founder Markus Thielen, the majority of FOMC members supported a September rate cut. He also noted that Bitcoin had increased by 4% following the FOMC minutes and that this indicates further upward potential for BTC.

Quote from Markus Thielen

Markus Thielen stated that Bitcoin's breakout from the symmetrical triangle indicates further upside potential for BTC.

The increase in open interest in Bitcoin after the FOMC minutes indicates investors' confidence in further developments in the cryptocurrency market.