The cryptocurrency market is experiencing one of the most dynamic moments of the year as Bitcoin has surpassed the psychological $78,000 mark for the first time in two months. This breakout is accompanied by a strong inflow of liquidity; on the Solana blockchain alone, 500 million USDC were issued within a short period of time, according to Whale Alert.

The main catalyst for growth was a sharp positive shift in geopolitics. The market reacted to news of a possible deescalation in the Middle East. Statements from the parties about opening the Strait of Hormuz for commercial shipping triggered a drop in oil prices below $80 for WTI and a sharp rise in risk assets — first of all BTC.

BTC/USD price chart with Whale Alert post, Source: TradingView

USDC printing press: 500 million “in the moment”

Against this backdrop, the Whale Alert system recorded the creation of two batches of 250,000,000 USDC, worth a total of $500 million in Circle’s treasury. The majority of the new issuance was deployed on the Solana network, bringing the weekly stablecoin issuance volume on this chain to a record $3.25 billion in 2026.

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Historically, such large USDC issuances precede phases of active buying or are used by institutions to collateralize margin positions amid rising volatility.

Despite the euphoria, experts from Glassnode and JPMorgan warn of a “sell wall” and potential profit-taking. Support is now located in the $75,000-$76,000 range. The ceiling for BTC in this rally is marked at $86,796, where the 200-day moving average is currently stretching.

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