Total notional volume from last Monday to Friday came in at $1.8 billion, down 11% from the prior week.

Breaking it down per coin, bitcoin volume came in at $1 billion, 17% lower than the previous week. Ether volume came in at $371 million, 11% lower than the week earlier.

Total notional volume over the past 30 days comes in at $7.7 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $8,279 and average position size for ether at $1,450.

Bitcoin and ETH volatility are showing signs of wanting to bottom out after trending lower for weeks. We’re looking at average daily ranges in bitcoin and ether of $2,397 and $124 respectively.

Bitcoin came under notable pressure over the weekend, as crypto markets bore the brunt of deteriorating global risk sentiment following Friday’s close.

Concerns around the unpredictability of the US administration, renewed fears of an unwind in the yen carry trade, and broader implications for global growth drove defensive positioning, with bitcoin slipping back toward recent support and ETH underperforming.

In the absence of liquid participation from traditional markets, the 24/7 nature of crypto amplified the move, accelerating downside momentum through Saturday and Sunday.

ETH lagged bitcoin on the draw, reflecting weaker relative momentum and a continued preference for bitcoin as the primary liquidity proxy in risk-off conditions.

Broader altcoin performance also deteriorated, highlighting a shift toward capital preservation rather than speculative rotation, while derivatives markets saw pockets of forced deleveraging add to short-term volatility.

Into early Monday trading however, signs of stabilization have begun to emerge, with cooler heads prevailing and both bitcoin and ETH retracing back toward Friday closing levels.

This rebound appears driven by a combination of short-covering and improving sentiment from traditional markets.

Macro developments remain central to price action, with crypto continuing (for the time being) to trade as a high-beta risk asset alongside equities.

Gold’s push to fresh highs underscores lingering caution, while FX volatility tied to the yen and rising political uncertainty in Washington — including renewed shutdown risks and trade tensions — remain key external variables for digital assets.

Looking ahead, attention turns to incoming macro data, central bank commentary, and positioning dynamics across both crypto and traditional markets.