Total notional volume from last Monday through Friday came in at $1.7 billion, 7% lower than a week earlier.

Breaking it down per coin, bitcoin volume came in at $1 billion, 11% lower than the previous week. Ether volume came in at $342 million, 3% higher than the week earlier.

Total notional volume over the past 30 days comes in at $7.9 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $7,855 and average position size for ether at $2,942.

Market volatility continues to trend lower overall since peaking earlier this year. We’re looking at average daily ranges in bitcoin and ether of $1,860 and $96 respectively.

We’re into the final week of what has become known as Uptober given historical performance in October. Bitcoin is up on the month but will need to get cooking in these final days if it is to live up to its reputation.

Average October gains for bitcoin have exceeded 20% since 2016 and as we come into the final stretch for the month, bitcoin is tracking at a modest +6% for the month.

This isn’t a market that needs a whole lot of space to heat up quickly, so there is still plenty of time for a strong close to the month.

A strong close would be most welcome for the price of ETH, which has been dragging despite bitcoin’s positive performance. Month-to-date, ETH is down over 4% as we come into the new week.

Fundamentally, a lot of the drag on crypto could be coming from US election risk. Indeed, while Trump is widely considered to be crypto friendly, his policies are also viewed to be overwhelmingly US Dollar positive.

The US Dollar implication seems to be holding more weight right now, with the market buying the Buck across the board as it considers a Trump victory that will usher in trade tariffs and domestic tax cuts.

Technically speaking, the outlook remains highly constructive. Bitcoin looks like it is in the final stages of consolidation ahead of the next big push through the record high and towards a challenge of the massive milestone at $100k.

ETH looks like it wants to start turning back up after a wave of weakness in 2024, but will need to establish back above $2,800 to encourage the bullish momentum.