---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/39714031.md"
description: "$Circle(CRCL.US)1. The suspense of the "last mile" in regulatory policyThe most direct reason at the moment is the "Clarity Act".Volatility point: Market rumors suggest the bill may see significant progress around April 3rd. Investors are most concerned about the clause in the bill regarding "prohibiting stablecoins from paying yields".Logic: If the bill passes with strict terms, the market worries that USDC's appeal will decline (because it cannot earn rewards by holding it). This "waiting for the other shoe to drop" uncertainty is causing the stock price to fluctuate between $90 and $100.2. Internal share reduction and valuation correctionProfit-taking: Financial reports show Circle's revenue grew 64% last year, and USDC circulation surged 72%. As the stock price rose too quickly before (once reaching above $280), some core management and early institutions recently reduced their holdings above $100 (cashing out about $5.35 million recently).Valuation game: Analysts are highly divided on what Circle is actually worth. Bulls (like Baird) believe it's worth $138, while bears believe its current price-to-sales (P/S) ratio is on the high side.3. The "psychological defense battle" on the technical sideKey support level: $90 is a very critical psychological and technical support level.Performance: Yesterday (April 1st), the stock price briefly dipped to $90.26 before quickly rebounding. As long as this level can be held, it indicates institutional investors recognize the "profit safety margin" at this price; if it breaks below, it may trigger further stop-loss selling pressure."
datetime: "2026-04-03T00:31:43.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39714031.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39714031.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39714031.md)
author: "[大硕鼠](https://longbridge.com/en/profiles/8850780.md)"
---

# $Circle(CRCL.US)1. The suspense of the "last m…


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