$CRCL 71.5, it dropped another 4.5%. I stared at this number for a long time—my head was full of conspiracy theories—but this time, it’s probably me overthinking it. It’s just that after the volatility in US AI stocks exceeded BTC, funds are looking for a safer exit.
TD Cowen raised its target price from a single-digit figure to $87 and maintained its Buy rating. Virtus’ fund portfolio update also included it. Institutional moves are pretty consistent.
But the market won’t buy it—trading volume is $97 million, and liquidity is still decent, but the direction is still down. Put simply, $CRCL is a stablecoin issuer, and its correlation is higher with Nasdaq tech stocks than with BTC—by itself, that’s pretty dark humor.
If you’re trying to catch the bottom, wait a bit longer. Let it break below $70 first. This pullback isn’t over yet.
#Circle
TD Cowen raised its target price from a single-digit figure to $87 and maintained its Buy rating. Virtus’ fund portfolio update also included it. Institutional moves are pretty consistent.
But the market won’t buy it—trading volume is $97 million, and liquidity is still decent, but the direction is still down. Put simply, $CRCL is a stablecoin issuer, and its correlation is higher with Nasdaq tech stocks than with BTC—by itself, that’s pretty dark humor.
If you’re trying to catch the bottom, wait a bit longer. Let it break below $70 first. This pullback isn’t over yet.
#Circle