Total notional volume from last Monday to Friday came in at $1.3 billion, holding steady with the prior week.

Breaking it down per coin, bitcoin volume came in at $559 million, 4% higher than the previous week. Ether volume came in at $419 million, 3% lower than the week earlier.

Total notional volume over the past 30 days comes in at $6.2 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $4,972 and average position size for ether at $2,477.

Volatility continues to trend lower and remains subdued. We’re looking at average daily ranges in bitcoin and ether of $2,349 and $102 respectively.

The crypto market is beginning to show signs of basing after several months of sustained downside pressure and relative underperformance.

More recently, that dynamic has started to shift, with crypto not only stabilizing but even showing periods of outperformance versus traditional benchmarks such as US equities.

When measured against another widely followed store of value—gold—the divergence is even more pronounced, with bitcoin holding up over the past month while gold has struggled.

Geopolitical developments have, of course, played a role in shaping price action, but crypto has demonstrated notable resilience in the face of uncertainty.

Part of this can be attributed to the fact that the market had already undergone a significant correction well before the onset of recent geopolitical tensions, creating an environment where valuations became increasingly attractive to opportunistic buyers.

At the same time, longer-term investors appear to have stepped in, drawn by the enduring value proposition of crypto as an asset class with relevance over the coming years and decades.

Bitcoin’s role as a store of value is becoming increasingly embedded in market thinking, with growing recognition translating into more consistent demand.

This dynamic continues to offer an additional layer of support, particularly in periods of macro and geopolitical stress.

That said, from a technical and structural standpoint, the market still needs to confirm whether these early signs of stabilization can evolve into a more meaningful bottom.

Key levels to watch are $76,000 in bitcoin and $2,400 in ETH. A sustained weekly close above these thresholds would be a strong signal that bullish momentum is re-emerging, opening the door for a move back toward—and potentially beyond—previous record highs.

More importantly, a break above these levels would likely catalyze broader participation across the digital asset space, reinforcing the case for a more durable recovery.