Bitcoin open interest decreased by 13,600 BTC over 24 hours, with market leverage levels declining.

TechFlow reports that on September 12, according to data from on-chain analyst Axel Adler Jr., Bitcoin open interest (OI) decreased by approximately 13,600 BTC over the past 24 hours, while the BTC price remained largely unchanged.

He stated that given the lack of a significant price decline, the drop in open interest indicates proactive market deleveraging, which helps reduce the risk of concentrated liquidations of highly leveraged positions triggering a cascade.