Total notional volume from last Monday through Friday was thinner on account of the July 4th holiday trade, coming in at $2.1 billion, 20% lower than the week earlier.

Breaking it down per coin, bitcoin volume came in at $991 million, 27% lower than the previous week. Ether volume came in at $536 million, 10% lower than the week earlier.

Total notional volume over the past 30 days comes in at $12 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $11,679 and average position size for ether at $2,883.

Bitcoin volatility continues to come down, tracking at fresh yearly low levels. ETH volatility is still mostly sideways after a pickup from the May low. We’re looking at average daily ranges in bitcoin and ether of $2,343 and $116 respectively.

Bitcoin continues to hold up well, just off record highs, while ETH remains exceptionally well supported on dips — reflecting steady momentum across the crypto market.

Crypto assets have seen resilient flows into spot ETFs and renewed institutional interest despite a broader pullback in equities markets.

It’s possible that tariff actions aimed at BRICS nations have made investors wary of equities, prompting a partial rotation into digital assets.

Simultaneously, growing optimism that the Federal Reserve might pivot to rate cuts later this year has weighed on the US Dollar and bolstered crypto assets.

The technical picture also remains highly constructive. Bitcoin looks to be in a period of bullish consolidation, waiting for that next major upside extension to fresh record highs, while ETH has shown clear signs of bottoming out in 2025, while also starting to outperform relative to bitcoin.

Looking ahead, macro forces—chiefly U.S.–BRICS tariff dynamics, Fed rate policy, and continued institutional flows into spot ETFs—are likely to remain the dominant drivers.

A breakout in bitcoin above $110K could catalyze follow-through, while tightening FX or geopolitical strains might push some hedging flows back into crypto.

Ethereum’s trajectory will hinge on ETF utility and capital market integration, but current signals suggest a solid upward bias as the week gets going.