🚨 Crypto Stocks Under Pressure Ahead of Powell’s Jackson Hole Speech
📊 The crypto market is feeling the heat as Circle (CRCL) and Coinbase (COIN) stocks face significant corrections:
🔹 Circle (CRCL):
• ⬇️ Corrected 55% from June highs ($300 → $131.80) despite strong Q2 results and Layer-1 Arc blockchain launch
• 💰 Insider Selling: CEO Jeremy Allaire sold 357,812 shares ($45.5M), sparking concerns over management confidence
• 📊 Analysts point to $100 as the next key target, implying another potential 25-30% drop
🔹 Coinbase (COIN):
• ⬇️ Down 25% in the past month, slipping below IPO price
• 🤝 Major $2.9B acquisition of Deribit signals growth, but momentum has faded
• 📈 Trading closely with Bitcoin, COIN’s trajectory mirrors macro and crypto market pressures
💬 Discussion Point: With regulatory and macro uncertainty looming, are crypto stocks still undervalued opportunities—or is caution warranted?