LMAX Digital volumes got off to a healthy start this week. Total notional volume for Monday came in at $775 million, 26% above 30-day average volume.

Bitcoin volume printed $388 million, 45% above 30-day average volume. Ether volume came in at $226 million, 29% above 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $12,619 and average position size for ether at $3,040.

Bitcoin volatility continues to track just off yearly low levels. ETH volatility has been trending up since bottoming in May.

We’re looking at average daily ranges in bitcoin and ether of $2,622 and $188 respectively.

Bitcoin has seen a mild pullback on Tuesday, perhaps as some shorter-term players square up positions to digest the US inflation data.

Despite the pullback, broader macro tailwinds—most notably a landmark executive order enabling U.S. 401(k) plans to include crypto—continue to underpin institutional interest especially via ETFs, offering structural support for further advances.

Ethereum, meanwhile, has done a good job holding its ground, tracking just off Monday’s yearly high, buoyed by expanding fundamentals such as surging on-chain activity, declining transaction costs, and growing institutional demand via spot ETH ETFs.

This sustained bid has helped it outperform BTC over the past month and underscores the strengthening utility narrative underpinning network adoption.

Broader capital markets are providing favorable spillover support as well.

Wall Street is largely treading water in the face of easing U.S. dollar pressure and buoyant ETF flows, while regulatory clarity—primarily through “Project Crypto” and SEC guidance—continues to foster confidence across both crypto-assets and related equities, helping lift names like MicroStrategy and Coinbase alongside broader digital asset sentiment.