LMAX Digital volumes were strong on Monday. Total notional volume came in at $2.1 billion.

Breaking it down per coin, bitcoin volume came in at $1.8 billion. Ether volume came in at $222 million.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $7,774 and average position size for ether at $2,195.

Volatility could be getting ready to turn higher again after several weeks of consolidation. We’re looking at average daily ranges in bitcoin and ether of $2,464 and $103 respectively.

Crypto has extended its recovery, with Bitcoin pushing to its highest level since January and Ether also shining as momentum broadens across the digital-asset market.

The move has followed several weeks of consolidation and reflects renewed demand after the market successfully absorbed a hawkish Federal Reserve decision, higher global yields and the failure of the CLARITY Act to advance.

Monday’s acceleration was driven by a combination of improving global risk appetite, lower oil prices and easing Treasury yields.

Strong inflows into spot Bitcoin ETFs provided evidence of returning institutional demand, while Strategy’s renewed Bitcoin purchases and more constructive regulatory signals from the SEC and CFTC added to the positive tone.

The break through a massive resistance level in Bitcoin that we have been talking about in the form of the May high, has generated additional momentum, forcing bearish positions to cover, turning the advance into a broader short squeeze.

Ether’s move to its highest level since January is particularly encouraging, suggesting demand is beginning to rotate beyond Bitcoin and into higher-beta areas of the market.

The traditional-market backdrop remains important. Resilient US technology shares and continued enthusiasm around artificial intelligence are supportive, while any further retreat in oil and bond yields would ease pressure on risk assets.

Interestingly, even after the latest rally, Bitcoin remains down around two and a half percent this year, while Ether is still lower by more than eight percent.

This leaves considerable room for the crypto market to run and suggests the recovery may only be beginning, particularly if institutional flows persist and recent technical breakouts hold.