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Alex_Trade✔️
$BTC’s August rally was not driven by aggressive leverage.
Bitcoin moved from roughly $63.5K to $80K while futures open interest fell about 9%, from ~646K BTC to ~588K BTC.
Price up + OI down usually means short covering and deleveraging, not a crowded long chase.
For bulls, the next test is a sustained reclaim of $80K.
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