Bitcoin Bounces Back From $82K Low, Open Interest Surges

The Bitcoin price dropped by 5.7% from $82,300 to $77,620 between September 3rd and September 8th. However, this short-term decline has reversed in the past 24 hours with a 2.4% gain.

The Bitcoin Open Interest (OI) has increased, indicating more market participants entering the derivatives market.

This could be a sign of a local low for Bitcoin, but the market sentiment remains greedy and is expected to become even more volatile this week due to the upcoming CPI report and rate hike expectations.

Long-term holder behavior suggests profit-taking, with the 30-day change in long-term holder supply falling by 98.5k BTC since August.