$Circle(CRCL.US)Circle has developed that kind of “violent but mean-reverting” personality. Every time it looks completely broken, buyers eventually come back because the market still sees the bigger stablecoin / rates / crypto infrastructure story underneath.

What makes it tricky is the volatility is partly fundamental, partly positioning. So deep selloffs often become opportunities, but psychologically they feel terrible in the moment.

Feels less like a clean trend stock and more like a high-beta narrative asset with recurring liquidity resets.

@Bridge Buzz SG