Total notional volume from last Monday to Friday reached $2.6 billion, up 23% from the prior week.

Breaking it down per coin, bitcoin volume came in at $1.5 billion, 20% higher than the previous week. Ether volume came in at $573 million, 22% higher than the week earlier.

Total notional volume over the past 30 days comes in at $14.3 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $8,920 and average position size for ether at $2,165.

Bitcoin and ETH volatility have been in cool down mode since peaking in October. We’re looking at average daily ranges in bitcoin and ether of $3,627 and $181 respectively.

As markets head into Monday, bitcoin remains the key proxy for overall crypto risk sentiment, with recent price action reflecting a fragile stabilization amid persistent macro headwinds.

Trading conditions have been volatile, marked by sharp liquidations and thin liquidity, though stabilizing flows indicate investors are cautiously accumulating at key supports as leverage unwinds.

That said, positioning remains highly vulnerable to further shocks in global liquidity and broader financial conditions.

Over the past several days, ETH has continued to outperform bitcoin, signaling that selective risk appetite is extending beyond the most defensive segment of the crypto complex.

Relative strength in ETH underscores sustained interest in the broader ecosystem, bolstered by robust staking participation and resilient on-chain activity.

This shift points to a gradual rotation from pure beta exposure toward assets with embedded utility and yield narratives.

From a traditional markets perspective, crypto continues to take cues from global macro drivers, particularly expectations around inflation, interest rates, and equity market direction.

Any easing in financial conditions or further weakening in the US dollar could provide tailwinds, while any hawkish surprise around the pace or extent of policy accommodation from the Federal Reserve could amplify downside pressure on crypto markets.

Geopolitical developments remain a secondary but persistent influence, with ongoing global tensions and political uncertainty elevating broader risk premia.

While crypto’s performance as a geopolitical hedge has been inconsistent, periods of heightened uncertainty can intermittently enhance bitcoin’s appeal as a non-sovereign asset.

Into the coming week, the balance between tentative risk stabilization and macro uncertainty is likely to remain central to price action.