Total notional volume from last Monday to Friday came in at $1.3 billion, 17% lower than the previous week.

Breaking it down per coin, bitcoin volume came in at $592 million, 35% lower than the previous week. Ether volume came in at $357 million, 15% higher than the week earlier.

Total notional volume over the past 30 days comes in at $6.4 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $5,997 and average position size for ether at $2,506.

Volatility remains exceptionally subdued and continues to trend lower. We’re looking at average daily ranges in bitcoin and ether of $2,256 and $95 respectively.

It would be easy to get caught up in the whirlwind of downside pressure as Monday gets going, but we think that would be a mistake. This reflects typical Monday consolidation and headline-driven caution rather than any erosion in underlying demand, with broader altcoins mirroring the majors amid light volume.

The bigger picture is looking far more constructive right now since bitcoin easily cleared major resistance at $76k several days back. From a technical perspective, this break opens the door for a more significant upside extension back towards $90k.

Institutional and corporate buying interest continues to provide a reliable bid on dips, reinforcing buyer conviction even as short-term volatility increases.

Although follow-through has been less convincing with respect to ETH, we have still seen ETH take out its major resistance at $2,400 and are simply now waiting for the market to settle above the figure.

We believe once it does, it could open the door for a major resurgence in demand across the broader crypto asset class.

ETH’s current consolidation has been accompanied by steady network metrics and positioning that favors eventual catch-up performance.

On the macro front, traditional markets continue to navigate geopolitical developments surrounding U.S.-Iran tensions, including reports of stalled talks, a canceled high-level travel plan, and ongoing uncertainty around any ceasefire extension.

In summary, while the near-term tape may feel choppy, the structural setup remains bullish. We continue to view dips as buying opportunities, with bitcoin leading the way and ETH poised to follow once it confirms its breakout.