---
title: "Bitcoin tops $72,000, but Circle and Bullish drop sharply after downgrades"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282251325.md"
description: "Bitcoin has surpassed $72,000, while Circle and Bullish experienced significant declines. Circle's stock fell 10% following a downgrade to Sell by Compass Point, citing concerns over USDC's growth shifting to lower-margin platforms and overly optimistic profit forecasts for 2026 and 2027. Bullish's stock dropped 6% after Rosenblatt downgraded it to Neutral, highlighting valuation concerns as the exchange trades at a premium to peers amid cooling crypto activity and diminishing IPO-related revenue."
datetime: "2026-04-09T21:20:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282251325.md)
  - [en](https://longbridge.com/en/news/282251325.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282251325.md)
---

# Bitcoin tops $72,000, but Circle and Bullish drop sharply after downgrades

-   Circle dropped 10% after Compass Point downgraded the stock to Sell, warning that USDC growth is shifting to lower-margin platforms and that profit forecasts for 2026 and 2027 may be too optimistic.
-   Bullish slid 6% after Rosenblatt cut its rating to Neutral on valuation concerns, saying the exchange now trades at a premium to peers and faces pressure as crypto activity cools and IPO-related revenue tailwinds fade.

### Related Stocks

- [BTCW.US](https://longbridge.com/en/quote/BTCW.US.md)
- [CRCL.US](https://longbridge.com/en/quote/CRCL.US.md)
- [BLSH.US](https://longbridge.com/en/quote/BLSH.US.md)
- [BLCN.US](https://longbridge.com/en/quote/BLCN.US.md)
- [RIOT.US](https://longbridge.com/en/quote/RIOT.US.md)
- [BTCHKD.VAHK](https://longbridge.com/en/quote/BTCHKD.VAHK.md)
- [BTCUSD.VAHK](https://longbridge.com/en/quote/BTCUSD.VAHK.md)

## Related News & Research

- [Funding Circle Adds to Treasury Stock as Share Buyback Progresses](https://longbridge.com/en/news/281860120.md)
- [Top Circle Executive Makes Major Move With Company Stock](https://longbridge.com/en/news/281671607.md)
- [Ripple CTO David Schwartz: Satoshi Nakamoto's $70B Bitcoin fortune likely lost forever](https://longbridge.com/en/news/282349098.md)
- [Funding Circle awards long-term performance share options to top executives](https://longbridge.com/en/news/281550373.md)
- [Circle Internet Group (NYSE:CRCL) Stock Price Down 7.9% on Insider Selling](https://longbridge.com/en/news/282236974.md)