Total notional volume from last Monday to Friday came in at $3.4 billion, up 90% from the prior week.

Breaking it down per coin, bitcoin volume came in at $1.97 billion, 125% higher than the previous week. Ether volume came in at $587 million, 32% higher than the week earlier.

Total notional volume over the past 30 days comes in at $11 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $7,729 and average position size for ether at $2,288.

Volatility has surged since bottoming in January. We’re looking at average daily ranges in bitcoin and ether of $4,343 and $181 respectively.

The crypto market has stabilized following last week’s sharp selloff, which had pushed the crypto fear and greed index to extreme fear levels.

After bitcoin retraced more than 50% from its October record high, price action has moderated, with signs of consolidation emerging as forced liquidation pressures ease. The market appears to be transitioning from a disorderly de-risking phase toward a more selective, two-way environment.

From a positioning perspective, the depth of the correction is beginning to attract interest from medium- and longer-term investors looking to add exposure on weakness.

This is particularly the case given that the broader fundamental backdrop for digital assets remains constructive, with no material deterioration in network activity or long-term adoption narratives. That said, confidence remains fragile, and near-term flows are still highly sensitive to broader risk sentiment.

Technically, the market still has work to do before a more durable recovery can be confirmed.

For bitcoin, a sustained break back above the $80,000 area would be an important signal that downside momentum has been arrested and that demand is re-asserting itself. For ETH, a move through $2,400 would similarly suggest improving market structure after underperforming during the selloff.

Beyond crypto-specific dynamics, traditional markets continue to play a key role in shaping sentiment. Equity markets remain choppy as investors reassess the global growth outlook and the likely path of monetary policy, while bond yields have stayed volatile amid mixed inflation signals.

In the geopolitical sphere, ongoing tensions and policy uncertainty are reinforcing a cautious backdrop, limiting appetite for aggressive risk-taking across asset classes.

Overall, while the immediate panic phase appears to have passed, the market is not yet in the clear. A period of consolidation and rebuilding of confidence looks likely, with crypto remaining closely tethered to developments in global macro markets.

Clear technical confirmation and improved risk conditions will be required before investors can credibly position for a more meaningful recovery.