Santiment said Bitcoin has gained about 22% recently, while coin-margined open interest moved in the opposite direction. The firm said open interest stood at roughly 353,500 BTC during the Aug. 12 to Aug. 18 period, then fell to about 312,600 BTC on Aug. 23. That marks a decline of around 11%, according to the data shared in Santiment’s post. Santiment added that the reading was the lowest level seen in at least one month. The figures point to a drop in coin-margined open interest even as BTC posted a notable price increase over the same recent stretch.
According to ChainCatcher, Santiment said BTC has risen about 22% recently, while coin-margined open interest fell from roughly 353,500 BTC during the Aug. 12 to Aug. 18 period to about 312,600 BTC on Aug. 23, a decline of around 11% and the lowest level in at least one month.
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