Fell to a one-month low, with open interest denominated in Bitcoin down approximately 11% from pre-rally levels

Odaily News: Santiment posted on X platform that Bitcoin's price has risen approximately 22% recently, with leveraged positions being unwound accordingly. Open interest denominated in Bitcoin has fallen from approximately 353,500 BTC before the rally to approximately 312,600 BTC as of August 23, a decline of about 11%, marking the lowest level in at least a month. Between August 12 and 18, the average price of Bitcoin was approximately $63,500, rising to approximately $77,700 on August 23. Open interest denominated in USD grew by approximately 8% over the same period, with price appreciation outpacing the pace of position unwinding.