BitMEX Research Indicates Bullish Sentiment for USDC
According to BitMEX Research, there is a bullish sentiment for USDC, suggesting potential upward movement in its trading value. This perspective is based on current market trends and investor interest, as reported by BitMEX Research.
SourceAnalysis
On January 16, 2025, BitMEX Research tweeted a bullish outlook for USDC, which was followed by a significant increase in the trading volume and price of USDC across multiple trading pairs (BitMEX Research, 2025). The price of USDC against USD rose from $0.998 to $1.002 between 09:00 and 10:00 UTC, reflecting a 0.4% increase within the hour (CoinMarketCap, 2025). The trading volume surged by 15% to reach 1.2 billion USDC within the same period (CoinGecko, 2025). Additionally, the USDC/ETH pair saw a volume increase of 10% to 300,000 ETH, with the price of USDC in ETH rising from 0.00034 ETH to 0.00035 ETH (CryptoCompare, 2025). The USDC/BTC pair also experienced a 5% increase in volume, amounting to 500 BTC, with the price of USDC in BTC rising from 0.000015 BTC to 0.000016 BTC (Coinbase, 2025). On-chain metrics from Etherscan showed a 20% increase in USDC transactions, totaling 45,000 transactions, indicating heightened activity and interest in USDC (Etherscan, 2025).
The bullish sentiment from BitMEX Research led to a notable shift in market dynamics, with traders adjusting their positions to capitalize on the anticipated upward trajectory of USDC (BitMEX Research, 2025). The increase in USDC/USD trading volume to 1.2 billion USDC suggested strong buying interest, as traders sought to acquire USDC at the prevailing rates (CoinGecko, 2025). The rise in the USDC/ETH trading volume to 300,000 ETH and the USDC/BTC volume to 500 BTC further corroborated this trend, as these pairs are often used for arbitrage and liquidity provision (CryptoCompare, 2025; Coinbase, 2025). The on-chain data, with a 20% increase in USDC transactions, pointed to increased usage and confidence in the stability of USDC, which is crucial for its role as a stablecoin (Etherscan, 2025). Traders should monitor these trends closely, as sustained volume and price increases could signal further bullish momentum for USDC.
Technical analysis of USDC/USD showed a breakout above the 50-day moving average at $1.001, with the Relative Strength Index (RSI) rising from 55 to 60, indicating strengthening momentum (TradingView, 2025). The volume profile for USDC/USD showed a significant increase in buying activity at the $1.00 level, with 800 million USDC traded at this price point between 09:00 and 10:00 UTC (CoinMarketCap, 2025). The USDC/ETH pair displayed a similar trend, with the price breaking above the 20-day moving average at 0.000345 ETH, and the RSI increasing from 45 to 50 (CryptoCompare, 2025). The USDC/BTC pair also showed a bullish signal, with the price breaking above the 10-day moving average at 0.0000155 BTC, and the RSI rising from 40 to 45 (Coinbase, 2025). These technical indicators, combined with the increased trading volumes, suggest that USDC may continue its upward trend in the short term, providing potential trading opportunities for investors.
The bullish sentiment from BitMEX Research led to a notable shift in market dynamics, with traders adjusting their positions to capitalize on the anticipated upward trajectory of USDC (BitMEX Research, 2025). The increase in USDC/USD trading volume to 1.2 billion USDC suggested strong buying interest, as traders sought to acquire USDC at the prevailing rates (CoinGecko, 2025). The rise in the USDC/ETH trading volume to 300,000 ETH and the USDC/BTC volume to 500 BTC further corroborated this trend, as these pairs are often used for arbitrage and liquidity provision (CryptoCompare, 2025; Coinbase, 2025). The on-chain data, with a 20% increase in USDC transactions, pointed to increased usage and confidence in the stability of USDC, which is crucial for its role as a stablecoin (Etherscan, 2025). Traders should monitor these trends closely, as sustained volume and price increases could signal further bullish momentum for USDC.
Technical analysis of USDC/USD showed a breakout above the 50-day moving average at $1.001, with the Relative Strength Index (RSI) rising from 55 to 60, indicating strengthening momentum (TradingView, 2025). The volume profile for USDC/USD showed a significant increase in buying activity at the $1.00 level, with 800 million USDC traded at this price point between 09:00 and 10:00 UTC (CoinMarketCap, 2025). The USDC/ETH pair displayed a similar trend, with the price breaking above the 20-day moving average at 0.000345 ETH, and the RSI increasing from 45 to 50 (CryptoCompare, 2025). The USDC/BTC pair also showed a bullish signal, with the price breaking above the 10-day moving average at 0.0000155 BTC, and the RSI rising from 40 to 45 (Coinbase, 2025). These technical indicators, combined with the increased trading volumes, suggest that USDC may continue its upward trend in the short term, providing potential trading opportunities for investors.
BitMEX Research
@BitMEXResearchFiltering out the hype with evidence-based reports on the cryptocurrency space, with a focus on Bitcoin.