Bitcoin Open Interest Drops by 13,600 BTC, Signaling Market Deleveraging

According to data from on-chain analyst Axel Adler Jr. on September 12, Bitcoin open interest decreased by approximately 13,600 BTC over the past 24 hours while prices remained stable. This reduction in open interest suggests active market deleveraging, which helps mitigate the risk of cascading liquidations from highly leveraged positions.