Bitcoin's 30-day implied volatility has stabilized at 45%, indicating a period of reduced market fluctuations as the year draws to a close. Meanwhile, Ethereum's 30-day implied volatility has decreased to 70%, marking its lowest level since October 9. This trend suggests a calming in the crypto markets. Additionally, CME Bitcoin futures open interest has fallen below 120,000 contracts for the first time in 2024, highlighting a decline in institutional trading activity. This reduction in open interest may reflect a cautious stance among institutional investors as the market approaches year-end.