Bitcoin’s (BTC) price has witnessed a sharp correction at the start of each month in Q3 2024. The first seven days of July and August saw a drawdown of 12.56% and 15.94%, respectively. September is following a similar tone, but it is important to note that Bitcoin also recovered swiftly to form lower highs (LH) in the following weeks. Bitcoin OI drops 12% in one weekBitcoin open interest (OI) has dropped 12% from $34.7 billion to $30 billion over the past week, which is a net positive considering current market conditions. Rising OI when prices move sideways after a flash crash indicates that …