LMAX Digital volumes got off to a strong start this week. Total notional volume for Monday came in at $1.5 billion, 45% above 30-day average volume.

Bitcoin volume printed $826 million on Monday, 38% above 30-day average volume. Ether volume came in at $239 million, 77% above 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $12,570 and average position size for ether at $3,147.

Market volatility has been trending up with bitcoin volatility at its highest levels for the year. We’re looking at average daily ranges in bitcoin and ether of $4,019 and $204 respectively.

Monday’s shakeup in crypto markets wasn’t to be unexpected. We’ve seen some big moves in recent weeks. So a healthy correction to allow from stretched technical studies to unwind was certainly in order.

Still, given the constructive seasonal trend analysis showing strong Q4 performance and positive returns in Decembers, and given ongoing enthusiasm around the incoming US administration’s embrace of crypto, we believe setbacks will be rather shallow.

As far as recent headlines go, MicroStrategy continues to accumulate bitcoin, acquiring another 21,550 bitcoin between December 2 and December 8. Meanwhile, analysts have been out upgrading the price outlook for Coinbase shares, fueling additional optimism.

Another important update comes from the world of stablecoins where the total market cap for this grouping has exceeded $200 billion, reflecting an uptick investor appetite for crypto assets across the board.

Looking ahead, Tuesday’s economic calendar is rather thin and global financial markets are in a consolidation state ahead of some bigger calendar risk from Wednesday through Friday.