CME Open Interest Suggests Downtrend Is Over

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The federalreserve is prepared for more aggressive interest rate hikes to curb rising inflation. Bitcoin traded in the red on Monday following Jerome Powell's hawkish tone. Chart of the Day explains, presented by cryptocom:

Federal Reserve Chariman Jerome Powell says the Fed will consider more aggressive rate hikes to tame inflation.

The statement sent bitcoin trading in the red Monday along with traditional markets. Nevertheless, risk appears to be on the table as “All About Bitcoin” host Christine Lee shows the data from Skew, illustrating CME bitcoin futures total open interest.

 

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