LMAX Digital volumes cooled off from Tuesday levels but were still well above 30-day average volume. Total notional volume for Wednesday came in at $325 million, 13% above 30-day average volume.

Bitcoin volume printed $215 million on Wednesday, 21% above 30-day average volume. Ether volume came in at $50 million, 19% below 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $8,358 and average position size for ether at $2,905.

Market volatility is showing signs of wanting to bottom out after trending lower since March. We’re looking at average daily ranges in bitcoin and ether of $2,000 and $100 respectively.

We’re into the final day of trade for October and though bitcoin performance has been solid, we are well short of average returns for the month of October which have exceeded 20% since 2013.

Nevertheless, the positive price action has yielded double digit returns on the month and there is still some time for bitcoin to make up ground in the final hours.

The outlook is all the more encouraging when considering a bitcoin market that has been in a consolidation since putting in a record high back in March and looks to be readying for that next big push to the topside.

November returns have also been exceptional, something that should give market participants that much more to look forward to in the days and weeks ahead.

Another thing to pay attention to is an ETH market that has been very quiet this year and could finally be wanting to make some waves.

There have been signs of ETH wanting to finally break out and if the price can get back above $2,800, we could really see a strong wave of bullish momentum.

Fundamentally, when we consider macro forces, we’re looking at a backdrop of central banks lower rates, China considering more stimulus, and mainstream adoption ramping up.

All of this suggests we should continue to see demand for bitcoin and other crypto assets.

As far as some of the latest headlines go, Visa has partnered with Coinbase to enable real-time cash outs, the BlackRock bitcoin ETF continues to see huge inflows, and MicroStrategy has announced a $42 billion capital plan to buy more bitcoin.