Total notional volume at LMAX Digital cooled off in the previous week on account of the US Thanksgiving holiday. Total notional volume from Monday through Friday came in at $6.9 billion, down 14% from a week earlier.

Breaking it down per coin, Bitcoin volume came in at $3.6 billion in the previous week, off 20% from the week earlier. Ether volume came in at $2.2 billion, off 9% from the week earlier.

Total notional volume over the past 30 days comes in at $34 billion.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $10,822 and average position size for ether at $7,447.

Volatility has been slowly picking up since finding a bottom in July. We’re now looking at average daily ranges in bitcoin and ether of $2,905 and $268 respectively.

Whenever you see big moves in global markets like we saw on Friday, it shouldn’t come as a surprise to see it ripple over into cryptocurrencies. And that’s exactly how it played out.

Overall, cryptocurrencies have held up well, but were not immune to the mass liquidation flow in traditional markets on the back of worry around the new coronavirus variant.

But as trading conditions have returned to fuller form on Monday, we are seeing there was an overreaction and markets have recovered across the board, which has led to recovery in cryptocurrencies.

Otherwise, things have been mostly quiet in cryptoland. We did hear from BOE Governor Bailey, who expressed concern about adoption of bitcoin in El Salvador.