Bitcoin futures open interest declined 13.5% from Sept. 3 to Sept. 11, falling by 43,346 BTC from 321,497 BTC to 278,151 BTC, while Bitcoin’s price dropped about 5%. Santiment said the sharper reduction in open interest, which measures outstanding futures contracts, indicates continued deleveraging, or the reduction of leveraged positions. Current open interest remains about 20% below its level before the mid-August rally, although it has risen modestly for two consecutive days since Sept. 11. Market attention is focused on a U.S. Senate cloture vote on the Clarity Act on Sept. 15 and the Federal Reserve’s interest-rate decision on Sept. 16. Santiment said futures-market position adjustments appear to have already been reflected last week.