Bitcoin (BTC) is experiencing a resurgence after several turbulent weeks. It is currently trading at a monthly high of $61,300, marking a significant 19% increase from its August 5th low of $49,600. This price surge indicates growing positive sentiment among investors.
Coincodex data further supports this bullish trend, showing a substantial 46.66% rise in Bitcoin’s intraday trading volume. This increased trading activity suggests that market participants are increasingly confident in Bitcoin’s performance, likely anticipating further gains.
Such a noticeable uptick in price and trading volume could lead to a broader market rally, affecting other major cryptocurrencies and pushing the overall market sentiment towards bullishness.
