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