LMAX Digital volumes for Monday were impressive. Total notional volume came in at $324 million, 49% above 30-day average volume.

Bitcoin volume printed $175 million, 68% above 30-day average volume. Ether volume came in at $80 million, 34% above 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $6,708 and average position size for ether at $2,661.

Volatility continues to trend lower and remains exceptionally subdued. We’re looking at average daily ranges in bitcoin and ether of $2,143 and $85 respectively.

Crypto markets have maintained a constructive tone over the past 24 hours, with bitcoin continuing to lead the move higher.

Bitcoin has held firmly above the $80k level, reinforcing the significance of the recent breakout and pointing to a market that is increasingly transitioning from recovery into a more structural uptrend.

The price action here is notable not just for the move itself, but for the stability above former resistance, which is helping to anchor sentiment.

Ethereum, meanwhile, has shown encouraging but less decisive price action. ETH has managed to break above the $2,400 level intraday, but has yet to firmly establish acceptance above it, with the market now attempting to reclaim that zone on a sustained basis.

This keeps Ethereum in a more neutral confirmation phase, where a clean hold above resistance would be needed to validate broader market participation beyond the bitcoin-led rally.

What continues to stand out is crypto’s resilience against a challenging macro backdrop. A firmer US Dollar, softer equity tone, and ongoing geopolitical tensions—particularly around the Middle East—have not translated into meaningful downside for digital assets.

This suggests that much of the macro-driven selling pressure seen in late 2025 and early 2026 has already been absorbed, with investors increasingly viewing the space as offering value after a prolonged drawdown.

From a flows and narrative perspective, sentiment is being supported by a combination of institutional engagement and improving regulatory visibility.

Ongoing optimism around potential legislative progress in the US is helping to reinforce confidence, while continued signs of ecosystem maturity—such as coordinated responses to DeFi-related disruptions—are reducing concerns around systemic fragility.

Technically, the setup remains constructive, particularly for bitcoin, where the break of multi-month resistance opens the door for a potential retest of prior cycle highs.

For Ethereum, the near-term focus is clearly on whether it can decisively reclaim and hold above $2,400, which would likely act as a catalyst for broader participation.

Overall, the balance of risks appears to be shifting more favorably, especially if crypto can continue to hold firm despite ongoing macro and geopolitical uncertainty.