Crypto Daybook Americas: USDC Takes January Crown as Bitcoin Looks to Core PCE Data
As of January 31, 2025, the cryptocurrency market is showing a mixed atmosphere, with Bitcoin (BTC) experiencing a pause amidst concerns regarding renewed tariff threats from Trump, impacting gold prices and bolstering the U.S. dollar. Meanwhile, USDC has stood out as January's top performer, achieving a significant market cap increase of 21% to $53.12 billion. This surge is attributed to USDC's compliance with MiCA regulations, which contrast sharply with USDT's modest 1% growth. The market's focus will also be on the impending U.S. Core Personal Consumption Expenditures (PCE) data, which could influence Bitcoin's performance. Additionally, notable developments include Crypto.com suspending purchases of various cryptocurrencies to comply with regulations, and several upcoming token unlocks and governance votes planned throughout February. Overall, the market remains cautious as traders keep an eye on macroeconomic indicators and crypto-related events.
Source 🔗