Total notional volume from last Monday to Friday came in at $1.4 billion, down 22% from the prior week.

Breaking it down per coin, bitcoin volume came in at $726 million, 26% lower than the previous week. Ether volume came in at $332 million, 19% lower than the week earlier.

Total notional volume over the past 30 days comes in at $10.5 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $7,117 and average position size for ether at $2,833.

Volatility has been trending back down to yearly low levels. We’re looking at average daily ranges in bitcoin and ether of $3,123 and $126 respectively.

Crypto markets have started the week under renewed downside pressure, with bitcoin plunging as much as 5% early Monday. The price action reflects a combination of institutional outflows, macro uncertainty, and fading upside momentum.

The latest wave of selling appears closely tied to a deterioration in global risk sentiment and renewed volatility across traditional markets—amplified by crypto-specific dynamics like leverage unwinds and cascading liquidations in thin early-week liquidity.

The primary trigger stems from renewed uncertainty around U.S. trade policy and tariffs. President Trump announced plans over the weekend to raise global tariffs, stirring economic turbulence despite the Supreme Court striking down some of his prior sweeping tariff uses.

This sparked a classic risk-off environment: investors pulled back from speculative assets like crypto, with bitcoin behaving more like a high-beta risk play than “digital gold.”

Meanwhile, within crypto, regulatory uncertainty and ongoing policy scrutiny in major jurisdictions continue to act as an overhang, limiting investor willingness to aggressively add risk in the near term.

Overall, this Monday pressure seems like a continuation of the month’s macro-driven correction rather than a fresh crypto-native crisis.

While the longer-term structural outlook continues to be supported by institutional adoption and expanding infrastructure, near-term price action is likely to remain volatile.

From a technical standpoint, nothing has changed. Key short-term levels to watch come in at $60k below and $69k above. A break on either side will be required for clearer directional insight.