LMAX Digital volumes got off to a solid start this week. Total notional volume for Monday came in at $1.1 billion, 19% above 30-day average volume.

Bitcoin volume printed $703 million on Monday, 31% above 30-day average volume. Ether volume came in at $148 million, 19% above 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $12,952 and average position size for ether at $2,715.

Market volatility has trended higher in recent weeks but is showing some signs of cooling off. We’re looking at average daily ranges in bitcoin and ether of $3,803 and $192 respectively.

There has been little slowdown in demand for crypto assets, despite the already impressive momentum in recent weeks and well publicized bitcoin break above $100,000.

Many were expecting some form of a meaningful pullback and these market participants have been left to reconsider this view, with many jumping back onto the long side.

Fighting against a bullish seasonal trend and what should be a wave of strong support for crypto assets when the Trump administration gets going, is proving to be a losing battle.

Technically speaking, we’ve highlighted the case for a clear path for bitcoin to extend up above $120k before the market might want to consider a period of consolidation.

We’ve spent a lot of time talking about signs of mainstream and institutional adoption and we continue to see signs of this playing out all around.

Look no further than Australian pension and wealth management giant AMP Ltd. The fund manager has  just taken on some bitcoin exposure, making it one of the first managers of its kind to invest in crypto products.

We’ve often found that trends like to run into year end. And given how we continue to hear of so many out there expecting an imminent pullback, we suspect this could be added fuel for the run to continue.