Bitcoin Just Had a 24% Month Without Traders Going Crazy 👀 $BTC gained around 24% in August, its strongest month since November 2024. Normally, a move like that would make me immediately look for the leverage hiding underneath it. Except perpetual open interest has fallen to its lowest level since May, while spot Bitcoin ETFs recently had their strongest week of demand since October 2025. In other words, the rally doesn't appear to have been built around an enormous pile of leveraged longs. That distinction matters. A market can reach exactly the same price through traders borrowing aggressively to chase momentum or through buyers simply purchasing the underlying asset. The chart looks similar, but what happens when prices start falling can be completely different because leveraged positions have liquidation levels attached to them. It doesn't make $BTC immune to a correction. But after a 24% month, seeing leverage lower rather than dramatically higher is probably one of the more interesting details hiding underneath the rally. #BTC Price Analysis# #Bitcoin Price Prediction: What is Bitcoins next move?#