Total notional volume from last Monday through Friday came in at $2 billion, 15% higher than a week earlier.

Breaking it down per coin, bitcoin volume came in at $1.2 billion, 8% higher than the previous week. Ether volume came in at $536 million, 38% higher than the week earlier.

Total notional volume over the past 30 days comes in at $8.4 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $6,731 and average position size for ether at $2,872.

Market volatility continues to trend lower since peaking back in August. We’re looking at average daily ranges in bitcoin and ether of $2,208 and $105 respectively.

Crypto assets have performed exceptionally well in the aftermath of last Friday’s US jobs report. The fact that yield differentials have swung back towards the Buck and crypto assets have traded higher nonetheless is something that should be paid attention to.

We’ve spent a lot of time arguing against any reliance on simple and straightforward correlations with traditional assets, with crypto offering itself up as a compelling uncorrelated asset for portfolio diversification.

The more crypto matures, the more we expect this to become clear in the broader marketplace.

This year’s introduction of the bitcoin and ETF spot ETFs and this latest news around SWIFT trialing digital asset transactions are examples of the types of updates that will invite further maturation within the space.

Of course, it is possible we have seen some of this latest demand on reduced expectations for a hard landing in the United States following such an impressive US jobs report.

With that said, it will be interesting to see what comes of this week’s Fed Minutes and US inflation data.

Technically speaking, bitcoin’s recent push back above $65k has opened the door for the start to the next major upside extension back towards and through the record high from earlier this year.

As a reminder, seasonal trends are also on bitcoin’s side, with Q4 performance shining bright from 2013 to 2023.