Analysis: Last week's CME Bitcoin futures open interest volume hit a new 6-month low, or it means that price fluctuations are small

According to Skew data, the number of open CME BTC futures contracts hit a low of more than 6 months last week. The number of open positions has been declining for the past few months since its sharp spike in the middle of the year, however, recent lows may indirectly indicate that Bitcoin may not experience another massive crash. On December 3, the volume of open positions was approximately $ 109 million, and the daily volume was approximately $ 65 million. The decline in open interest and trading volume also indicates that investors are withdrawing from the sector, indicating that adoption has stalled.
In addition, according to data from coinmetrics.io, despite a decline in total interest, the total number of Bitcoin addresses holding more than 0 BTC reached 28.39 million, a record high (ATH), surpassing the previous ATH's 28.38 million addresses.