Total notional volume from last Monday through Friday came in at $3.2 billion, 31% lower than the previous week.

Breaking it down per coin, bitcoin volume came in at $1.8 billion, 11% lower than the previous week. Ether volume came in at $561 million, 63% lower than the week earlier.

Total notional volume over the past 30 days comes in at $21.4 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $12,734 and average position size for ether at $3,222.

Bitcoin and ETH volatility have been in cool down mode following the latest surge. We’re looking at average daily ranges in bitcoin and ether of $3,574 and $214 respectively.

We continue to emphasize the importance of seasonal trend analysis, which remains relevant despite October’s uneven performance so far.

Historically, both October and the broader fourth quarter have delivered strong results for bitcoin and crypto markets as a whole.

While this month has been softer thus far, there is still ample time for momentum to shift — and as we know, a week can be a long time in crypto.

From a technical standpoint, the outlook remains constructive. The recent pullback in bitcoin and ether appears to be a healthy consolidation phase following fresh record highs against the U.S. dollar.

We expect these markets to remain well supported on dips, paving the way for another leg higher into year-end.

It’s also worth noting that 2025 has been a defining year for digital assets — marked by meaningful progress in adoption, institutional participation, and regulatory clarity.

These structural tailwinds continue to underpin the broader bullish narrative and should help attract renewed inflows as the year draws to a close.

Finally, the recent rebound in crypto has been supported by an improving macro backdrop — particularly softer U.S. CPI data that has reinforced expectations for Federal Reserve rate cuts and a more accommodative policy stance.

Together with easing yields and stronger risk sentiment, this has provided a catalyst for renewed demand across digital assets heading into year-end.