LMAX Digital volumes got off to a slow start this week. Total notional volume for Monday came in at $413 million, 12% below 30-day average volume.

Bitcoin volume printed $242 million on Monday, 2% above 30-day average volume. Ether volume came in at $75 million, 20% below 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $9,332 and average position size for ether at $1,959.

Bitcoin volatility has fallen back into a familiar consolidation range. ETH volatility has been trending lower towards multi-week lows. We’re looking at average daily ranges in bitcoin and ether of $3,583 and $127 respectively.

Fresh catalysts from within the crypto space have been few and far between in recent days, leaving the market to pay closer attention to the world of traditional finance.

As far as things on that front go, investors have been feeling better about the prospect of US tariffs being more targeted than what had previously been thought.

The has opened a resurgence in demand for risk assets across the board, which has also filtered over into demand for crypto assets.

But we do believe the recent pullback in equities markets could set the stage for an uptick in sentiment towards bitcoin and crypto assets overall.

As we’ve highlighted many times, bitcoin’s properties and composition make it anything but a risk asset. If it weren’t for bitcoin still being considered a young, emerging asset, this reality would be a lot more clear.

But we believe any additional downside pressure on stocks won’t weigh as heavily on bitcoin, and traditional market participants will be more turned on to the fact that bitcoin is indeed an attractive portfolio diversification asset.

We were pleased to see an experiment from one well known bank, which demonstrated how bitcoin can translate to higher returns and lower volatility for a tech stock related investment portfolio.