New York, 05:42 AM ET: Circle Internet Group Inc. (NYSE: CRCL) surged 4.42% to $232.48 in pre-market trading at 8:00 AM EDT, rebounding from Wednesday’s 15.49% plunge to $222.65 . The drop, extending a correction from a $298.99 peak on June 23, wiped $18B off CRCL’s market cap, now $49B. Investors are eyeing Circle’s USD Coin (USDC), with $2.61T in 2024 transactions, as a stabilizing force.
The recovery follows a brutal two-day slide, sparked by Cathie Wood’s ARK Invest selling 1.7M CRCL shares for $352M. Despite CRCL’s 750% rally since its $31 IPO on June 5, 2025, its P/E of 238 signals overvaluation.
Also Read – 4 Reasons Circle (CRCL) Stock is Crashing – Will It Hit $200 Next?
A Fiserv partnership for USDC payments and the GENIUS Act’s regulatory clarity bolster confidence, yet Wednesday’s bearish marubozu candlestick and RSI at 40.77 highlight caution.
CRCL breached $245-$250 support, retracing to $230 (hourly 9EMA). The daily 9EMA at $186.55 nears a $185-$205 support zone, while $243-$250 is now major resistance, with $233-$238 as a minor hurdle.
RSI at 40.77 suggests potential to fill a $206 gap or test $200, but pre-market strength hints at a $200-$250 range.
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