Total notional volume from last Monday through Friday came in at $2 billion, 40% higher than a week earlier.

Breaking it down per coin, bitcoin volume came in at $1.1 billion, 39% higher than the previous week. Ether volume came in at $565 million, 53% higher than the week earlier.

Total notional volume over the past 30 days comes in at $9.2 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $7,243 and average position size for ether at $2,404.

Market volatility has cooled off dramatically after surging in early August. We’re looking at average daily ranges in bitcoin and ether of $2,396 and $131 respectively.

The first week of September hasn’t done anything to let down seasonality trend analysis that had be warning of a tough month. In fact, setbacks in September have already well exceeded average negative returns for the month.

From 2013 to present, bitcoin has produced an average September return of -7.02%. Bitcoin comes into this new week down well over 7%, after having been down as much as 11% for the month.

The market has been suffering from this seasonality trend, along with concerns around ETF outflows and the outlook for the global economy.

Friday’s US jobs report proved to be a tough one for investors to digest on the nasty combination of a softer NFP print and higher hourly earnings.

This is the type of combination that leaves investors worried about the state of the jobs market, while finding it more difficult to expect a more investor friendly 50-basis point rate cut from the Fed next week on account of the higher earnings.

On the bright side, there has been nothing fundamentally concerning about the outlook for crypto assets, with institutional adoption continuing to show signs of ramping up.

Technically speaking, there is also no cause for concern, with bitcoin confined to choppy consolidation within a bigger picture uptrend.

The other good news is that Q4 performance metrics for crypto assets are extremely robust. October through year end is the best time for crypto. Given how things have played out of late, the stage appears set for year another impressive Q4.