Could Circle’s USDC be the key catalyst for crypto’s Q4 cycle?

So far, Q4 has started with the stablecoin market cap struggling to break above the $310 billion-mark, suggesting that liquidity across the crypto market remains too weak to fuel breakout rallies.

Bitcoin’s 2.5% correction and failure to reclaim the $90K-range further reinforced this trend. So, with limited liquidity, buying pressure is low, possibly limiting the upside for the market.

Additionally, the persistent selling pressure across key Bitcoin market segments could trigger a demand-supply imbalance. With low liquidity on one side, and sell-pressure on the other, the market might find it difficult to generate enough buying power to recover strongly.