Bitcoin Trading Volume Hits Two-Month High Amid FUD

In a remarkable display of resilience, Bitcoin's trading volume surged to an average of 60 BTC per 15-minute interval over the past 24 hours, marking a two-month high. This uptick in activity underscores a strong demand for the cryptocurrency, despite recent fears surrounding Tether (USDT), which has been embroiled in regulatory scrutiny.

The heightened trading volume reflects significant participation from investors, indicating that many are seizing this moment to accumulate Bitcoin at current price levels. Bitcoin is currently trading around $66,800, having stabilized above the crucial $65,000 support level after experiencing significant volatility. Analysts suggest that this robust trading activity could signal an impending breakout if Bitcoin can surpass the $70,000 resistance mark.

Interestingly, this surge in trading comes on the heels of FUD (fear, uncertainty, and doubt) related to USDT, which saw its value dip slightly amid reports of a potential U.S. investigation into its operations. Despite these challenges, market sentiment appears largely optimistic, with many traders viewing the Tether news as a temporary setback rather than a long-term threat.

As Bitcoin consolidates within this range, the strong demand and increased trading volumes could pave the way for a renewed rally in the coming days.