LMAX Digital volumes put in their strongest daily performance since early December. Total notional volume for Tuesday came in at $438 million, 81% above 30-day average volume.

Bitcoin volume printed $291 million, 114% above 30-day average volume. Ether volume came in at $61 million, 28% above 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $8,566 and average position size for ether at $1,509.

Bitcoin and ETH volatility is starting to show signs of bottoming out after trending lower for several weeks. We’re looking at average daily ranges in bitcoin and ether of $2,437 and $116 respectively.

Bitcoin has surged in the past 24 hours, decisively breaking above the 95k mark and signaling a strong technical breakout after days of consolidation.

This move has reawakened bullish momentum, with market participants now eyeing a potential climb above 100k and a possible retest of all-time highs.

The spike in trading volume on this breakout underscores that fresh buying interest is driving the rally.

Ethereum has also rallied in tandem, outperforming on the day thanks to renewed enthusiasm around on-chain activity, staking, and DeFi.

The broader crypto market is showing solid breadth, with several large-cap assets following bitcoin’s lead and posting robust gains as risk appetite returns.

Supporting this upswing is a favorable backdrop in traditional markets, where equities remain resilient and bond yields have steadied.

The easing inflation narrative and confidence that central banks are nearing the end of their tightening cycles have provided a tailwind for risk assets, including cryptocurrencies.

From a technical and positioning standpoint, rising open interest and improved funding rates suggest that this is fresh long positioning rather than mere short covering.

A weekly close above 95k in bitcoin, or a break in ETH beyond $3,500, would provide an important confirmation signal for a renewed push higher.