Stablecoin market revival driving Bitcoin's recovery

A revival in the stablecoin market, led by USDC, is driving Bitcoin's recent recovery, according to an analysis by CoinDesk. The media outlet noted that fears in the asset markets have subsided after U.S. President Donald Trump said that a war with Iran could end in a short period. Amid this backdrop, Bitcoin reclaimed the $70,000 level, posting a daily gain of over 4%. CoinDesk explained that the market capitalization of USDC, the world's second-largest stablecoin, is approaching its all-time high of $78.6 billion after rebounding from $70.9 billion at the start of the year. Additionally, the total issuance of USDT, the largest stablecoin, has reached $184 billion, an increase of $500 million from its low in late February. This growth in stablecoin supply suggests an increase in capital waiting on the sidelines, which could potentially be reinvested into Bitcoin and fuel its upward trend.