Crypto Daybook Americas: USDC Takes January Crown as Bitcoin Looks to Core PCE Data

By Omkar Godbole (All times ET unless indicated otherwise)The crypto market is treading water and the biggest cryptocurrency, bitcoin, is taking a bull breather. Its upward momentum is getting stifled by Trump's renewed tariff threats, which are also sending gold prices soaring to record highs and propping up demand for the U.S. dollar.See all newslettersBut there is action in some corners of the market. The VIRTUAL token popped after its recent listing on Upbit, and Hyperliquid's HYPE token has seen a 3% gain. Litecoin is also making waves, with its perpetual futures open interest on centralized exchanges climbing to 5.19 million LTC, the most since Dec. 9, according to Coinglass. The surge hints at fresh capital flowing into the market, likely fueled by hopes of a spot ETF listing in the U.S.Speaking of stablecoins, USDC is stealing the spotlight as the star performer this month, boasting a remarkable market cap growth of 21% to $53.12 billion. That's its best month since May 2021, according to TradingView data. In contrast, USDT, the heavyweight champion of dollar-pegged stablecoins, eked out just a 1% increase. USDC even outperformed bitcoin, which grew a respectable 10%.According to IntoTheBlock, USDC's outperformance is likely due to its compliance with Europe’s MiCA regulations, while rivals like USDT face tough headwinds. But don’t count USDT out just yet; its market is starting to bounce back, and the simultaneous growth of USDC is offering a bullish impulse for the crypto market.As we keep an eye on the macro landscape, the pivotal U.S. core PCE — the Fed’s go-to measure for inflation — is set to be released. Expectations are for a hot headline figure, with core reading, which excludes food and energy, showing positive improvements that might help BTC break out of its dull price action near $104,000. However, ING is cautioning that the dollar might stay strong into the weekend. “If we don't receive any news on Canada and Mexico by the end of today, there's a risk that the dollar could strengthen further as the market starts to price in a higher chance of tariffs being announced tomorrow,” it wrote. So, stay alert!Athena hard fork network upgradePepecoin (PEPE) halvingBoba Network’s Holocene hard fork network upgradeQ4 FY 2024 earningsShentu Chain network upgradeQ4 2024 earningsQ4 2024 earningsQ1 FY 2025 earningsQ4 2024 earningsQtum (QTUM) hard fork network upgradeQ4 2024 earningsQ4 2024 earningsQ4 2024 earningsQ4 2024 earningsQ4 2024 earningsCrypto Peaks 2025Ethereum Zurich 2025Plan B ForumCrypto Gathering 2025CryptoXR 2025Oasis Onchain 2025Satoshi RoundtableDigital Assets ForumGlobal Blockchain CongressOndo Summit 2025Solana APEXNFT ParisConsensus Hong KongSui Connect: Hong KongETHDenver 2025HederaCon 2025Source: Farside InvestorsBitcoin Steady, Gold Tokens Shine as XAU Hits Record High; Inflation in Tokyo RisesGrayscale Files SEC Proposal to Convert XRP Trust Into ETFTrump Is Getting the Lower Interest Rates He Demanded From Everyone but the FedTrump Says 25% Tariffs on Mexico and Canada May Not Include OilJapan’s Economy Faces Fallout From Trump’s China Tariff Threats