Stablecoins See Positive Momentum: Will This Lead To New Bitcoin All-Time High?

Data shows the stablecoins USDT and USDC have been seeing capital inflows recently, something that could turn out to be bullish for Bitcoin.

Top 2 Stablecoins Have Seen Their Market Caps Grow Recently

In a new post on X, the on-chain analytics firm Santiment has discussed about the latest trend in the market caps of the top two stablecoins: USDT and USDC. Below is the chart shared by the analytics firm, that shows the data for the 30-day change in the market caps of the two cryptocurrencies.

As is visible in the graph, the 30-day percentage change in the market cap of USDC has spiked to sharp positive levels recently, implying that the stablecoin has been growing at a rapid rate.

Unlike USDC, which has seen sustainable growth for the last few months, USDT kicked off the year 2025 with its 30-day market cap change dipping into the negative territory. Since bottoming at around -2% earlier in the month, though, momentum has returned for the asset as the indicator has just turned back green.

This means that at present, both of the two stablecoin giants are enjoying an increase in their market caps. Historically, growth in these fiat-tied tokens is something that has been bullish for Bitcoin and other volatile cryptocurrencies.

The reason behind this is the fact that investors who store their capital in the form of stablecoins generally plan to invest into the volatile side of the market eventually. When they buy BTC with their stables, its price naturally receives a positive effect.

The most bullish scenario for the sector occurs when both Bitcoin and the stablecoins witness a rise in their market caps. Such a setup implies both sides of the market are getting net capital inflows. When only one rises while the other goes down, it means capital is merely seeing a rotation between the two.

The recent inflows into USDT and USDC have come while BTC has been consolidating sideways. This suggests the capital entering into the stables is fresh, as BTC would have gone down if it was otherwise. At the same time, BTC itself isn’t seeing any direct inflows, hence the flat price action.

Usually, stablecoin holders deposit to centralized exchanges when they want to purchase the volatile cryptocurrencies. Thus, the number of stable deposits into these platforms can tell us about whether large-scaling buying of this type is happening or not.

An analyst has shared the data for the metric in a CryptoQuant Quicktake post.

From the above chart, it’s apparent that the indicator is following a flat trajectory right now. An increase in it, like the one witnessed earlier, may provide fuel for a further rally for Bitcoin.

Bitcoin Price

At the time of writing, Bitcoin is floating around $104,800, down 1% in the last week.

Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

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