Total notional volume from last Monday through Friday came in at $6.5 billion, 70% higher than a week earlier.

Breaking it down per coin, bitcoin volume came in at $4.5 billion, 74% higher than the previous week. Ether volume came in at $862 million, 18% higher than the week earlier.

Total notional volume over the past 30 days comes in at $16.3 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $10,531 and average position size for ether at $3,228.

Market volatility has turned up aggressively in recent days. Bitcoin volatility is trading back towards yearly high levels, while ETH volatility is back into the 2024 mid-range of 2024.

We’re looking at average daily ranges in bitcoin and ether of $3,456 and $150 respectively.

The speculative frenzy in the aftermath of the US election result appears to finally be cooling off a bit as bitcoin enters a period of consolidation after surging to a fresh record high at $93,500.

An overwhelming majority of bitcoin’s circulating supply is now sitting in the profit and studies show that when this happens it’s often a warning sign for a correction ahead.

Still, with bitcoin staring at that massive $100,000 milestone, it feels like the market is going to at least want to take out the level before considering a correction.

Moreover, seasonal studies suggest we should indeed continue to see upside in the weeks ahead. Bitcoin Q4 performance since 2013 has exceeded 80%.

At the time of this update, bitcoin is up 55% in Q4, leaving plenty of room for the market to run if it wants to match the Q4 performance stat.