There a was a decent drop in volume to start the week, though we’re already seeing levels trending back towards the 30-day average. Total notional volume for Tuesday came in at $1.18 billion, just 8% off of the 30-day average volume.

Bitcoin has been responsible for the recovery in volume, printing Tuesday reads of $699 million, up 6% from 30-day average volume and picking up the slack from ether, which printed a lowly $277 million in volume on Tuesday.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $9,668 and average position size for ether at $4,857.

Volatility has been slowly picking up since finding a bottom in July. We’re now looking at average daily ranges in bitcoin and ether of $2,471 and $230 respectively.

Crypto assets have enjoyed a nice run this week and have been helped along from Monday’s WSJ piece revealing the Fed’s plan to launch a review of the potential benefits and risks of issuing a US digital currency.

This only offers itself as additional validation for the asset class and serves to push it further into the mainstream.

Another interesting supportive development is seasonality. Looking at performance over the past 6 years, October has proven to be the second best performing month overall for bitcoin.

Regulatory headlines have been yet another prop for the space. We just heard from the Swiss financial regulator, which approved the first cryptocurrency investment fund of its kind in Switzerland.

This follows news around the approval of an ETF out of Canada the other week.