LMAX Digital volumes were mild as the week got going. Total notional volume for Monday came in at $350 million, 7% below 30-day average volume.

Bitcoin volume printed $186 million, 10% below 30-day average volume. Ether volume came in at $92 million, 11% above 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $7,734 and average position size for ether at $2,357.

Volatility is cooling down after an impressive surge. We’re looking at average daily ranges in bitcoin and ether of $4,247 and $179 respectively.

The crypto market has traded with a steadier tone over the past 24 hours, with bitcoin consolidating as the primary barometer for broader risk sentiment.

Price action has been relatively contained, reflecting a pause after recent volatility as markets await clearer directional cues.

ETH has broadly tracked bitcoin, with performance remaining subdued but stable as investors continue to assess relative value following its recent underperformance.

From a crypto-specific perspective, the absence of fresh negative catalysts has helped stabilize sentiment, while dip-buying interest continues to emerge on pullbacks.

However, conviction remains limited, with flows suggesting tactical positioning rather than a decisive shift back into risk.

Market participants appear focused on technical levels, with a sustained upside break needed to signal a more durable recovery.

Traditional markets have been an important influence, as global equities have traded mixed and bond markets remain sensitive to shifting expectations around monetary policy.

Moves in rates and the US dollar have been closely watched, with crypto maintaining a high correlation to broader risk assets. The lack of clear follow-through in equities has kept digital assets range-bound.

On the geopolitical front, ongoing political uncertainty across major economies has reinforced a cautious backdrop, limiting appetite for aggressive risk-taking.

Headlines related to fiscal policy, elections, and international trade continue to feed into cross-asset volatility, indirectly shaping crypto sentiment.

Overall, the market remains in a consolidation phase, with downside pressures easing but upside momentum still lacking.

A clearer signal from macro markets or a break through key technical levels in bitcoin and ETH will likely be required before investors are prepared to re-engage more decisively.