Santiment said Bitcoin open interest measured in BTC dropped from 321,497 BTC on Sept. 3 to 278,151 BTC on Sept. 11, a decline of 43,346 BTC, or 13.5%. Over the same period, BTC price fell about 5%, which Santiment said means the drop in positioning was not simply the result of price weakness. The firm added that current market positioning remains roughly 20% below levels seen before the rise in mid-August. Open interest stopped falling on Sept. 11 and then posted slight increases for the next two trading days. According to Santiment, that pattern suggests most de-risking took place before this week’s key event announcements rather than during the events themselves. The update points to leverage being reduced in advance, with some positioning starting to rebuild only after the decline in open interest paused.
BlockBeats reported on Sept. 14 that Santiment said Bitcoin open interest measured in BTC fell from 321,497 BTC on Sept. 3 to 278,151 BTC on Sept. 11, down 43,346 BTC, or 13.5%.
During the same period, BTC price slipped about 5%, so Santiment said the decline in open interest was not caused by the price drop alone. The firm also said current market positioning is about 20% below the level seen before the rally in mid-August.
Open interest stopped falling on Sept. 11 and then edged higher for two straight trading days. Santiment said this suggests de-risking happened mainly before this week’s major event announcements, not during the events themselves.
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