LMAX Digital volumes recovered nicely on Wednesday. Total notional volume for Wednesday came in at $366 million, 16% above 30-day average volume.

Bitcoin volume printed $226 million on Wednesday, 16% above 30-day average volume. Ether volume came in at $97 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 $7,363 and average position size for ether at $2,396.

Market volatility has cooled off to multi-month low levels after a big jump in early August. We’re looking at average daily ranges in bitcoin and ether of $2,425 and $125 respectively.

Crypto assets are holding up well after a whipsaw day of price action, largely in response to the US CPI data.

Initially, the market was spooked by a sticky core CPI read, before finding inspiration in the softer, bigger picture year-over-year trend.

As we had outlined in our Wednesday preview, a market that was looking at softer CPI would be a market more inclined to sell US Dollars and buy US equities.

The net result for crypto here has been a logical desire to want to push higher as yield differentials move out of the Buck’s favor and invite more investor friendly monetary policy.

Technically speaking, it all continues to be rather boring. As per today’s chart analysis, we remain confined to what has been one big period of consolidation and minor correction within a very strong uptrend.

Key shorter-term technical levels to keep an eye on in the price of bitcoin come in at the August 25th high of $65,050 and the September 6th low of $52,530.

Looking ahead, calendar events to keep an eye on today include the ECB policy decision and more US inflation data in the form of producer prices.