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BTC cooled down after a strong rebound in mid-August, but Open Interest remains around the highest levels in many months. This discrepancy is more notable than the price volatility itself. Leveraged money has not left the market, while trading volume is no longer booming as it was during the price surge. This means many positions are still waiting for a clear direction. High OI does not automatically signal a price drop, as it is not yet clear whether the Long or Short side holds the advantage