The open long contracts for CME BTC futures have increased to $56.4 billion

Data from The Block shows that the open interest (OI) of CME BTC futures reached $4.97 billion two weeks ago, which is the lowest point since early March. This is a significant drop compared to the historical high of $6.74 billion set in the first week of July, but there has been a rebound recently, with OI increasing to $5.64 billion last week. Analysts pointed out that the recent decline indicates that asset managers have been reducing their long exposure to BTC, which may be in response to recent market volatility or part of risk management strategies during periods of macroeconomic uncertainty. It's also worth noting that despite the recent decrease in OI, current OI remains much higher than last year.