In July, the on-chain trading volume of USDT (Tether) exceeded $1.2 trillion.

Bitcoin/Tether (BTC/USDT) has rebounded from the lower edge of the descending channel and is currently consolidating above 114,700. Bitcoin/Tether (BTC/USDT) has rebounded from the lower edge of the descending channel and is currently consolidating above 114,700. Bitcoin/Tether (BTC/USDT) has rebounded from the lower edge of the descending channel and is currently consolidating above 114,700. Price movements indicate that after recently testing the support level, buying interest is increasing.

Currently, Bitcoin is approaching the midline of the channel, attempting to build upward momentum for a breakout. If the price can effectively break through the midline and stay above 116,000, it is likely to continue pushing towards the upper edge of the channel. The key resistance level remains at 117,635 - breaking this level may confirm a trend reversal, targeting the 120,000 area.

As long as the price stays above the recent low, the technical outlook remains cautiously optimistic. However, if bearish pressure re-emerges and the price falls below 114,000, it may retest 112,500. Bullish strategies are still applicable, but contract users should manage their positions carefully and set strict stop-losses until a complete breakout signal is confirmed.