$CRCL It has all now fallen all the way to $85.

Barron’s Weekly and other institutions have recently cut their ratings, even down to a sell rating!
The core logic is that they’re worried Circle’s net interest margin (NIM) will be compressed. With expectations for rate cuts heating up, reserve interest income could top out, while compliance costs and intensified competition with Tether are squeezing gross margins further; with a P/E as high as 87x, the valuation isn’t cheap.
Plus, the earlier Clarity Act, which protects banks and limits stablecoin yields, has also added to the selling pressure.
Since the pullback from the $130 high in March, the decline has been nearly 35%. $85 is a key support zone over the past six months, and the RSI hasn’t yet reached extreme oversold levels—so it’s not out of the question that the market could still break below it, with the next support at $70-75.
However, if you believe in the big trend of monetary freedom and RWA, as a payment infrastructure, Circle is indeed locking in more on-chain liquidity, and it’s still worth buying in the long term.