Total notional volume from last Monday through Friday came in at $3.8 billion, 91% higher than a week earlier.

Breaking it down per coin, bitcoin volume came in at $2.6 billion, 91% higher than the previous week. Ether volume came in at $731 million, 129% higher than the week earlier.

Total notional volume over the past 30 days comes in at $11.1 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $9,256 and average position size for ether at $3,003.

Market volatility has been trending back up since bottoming out in October. We’re looking at average daily ranges in bitcoin and ether of $2,540 and $134 respectively.

Bitcoin just put in its first weekly close above $80,000 to solidify the impressive breakout in the previous week to a fresh record high beyond the previous record high from March.

As per our technical insights, the bullish breakout follows a consolidation range of approximately $25,000, which suggests the current upside extension will want to extend by the same amount, putting it directly on course to test the much talked about psychological barrier at $100,000.

Seasonality trends are on bitcoin’s side as well. If we look at bitcoin Q4 performance from 2013 to present, Q4 returns have exceeded 80%. We’re already up around 30% in Q4. If bitcoin has any plans of repeating historical Q4 performance, it will indeed be testing $100,000 before the year is out.

Another encouraging sign has been performance in ETH. ETH had been underperforming all year despite bitcoin already breaking out to a fresh record high in March.

But last week, ETH finally managed to push through important resistance just over $2,800, setting the stage for its own bullish breakout and possible move to retest the record high from 2021 at $4,870.

Fundamentally, the US election result has been a formidable positive catalyst. The Trump campaign was exceptionally warm on the topic of cryptocurrency and the market believes the incoming administration will deliver on its promises.