Crypto Stock Outlooks Shift Post-GENIUS Act Ahead of Q2 Earnings Season
Market sentiment toward crypto-related equities shows volatility following the GENIUS Act signing and approaching Q2 earnings reports. Compass Point analysts downgraded Circle (CRCL) from neutral to sell, slashing their price target from $205 to $130 amid concerns about competitive pressure from traditional banking stablecoin offerings. CRCL shares fell 14% over five days to $195, reflecting a 'sell-the-news' reaction despite the anticipated rally.
Jefferies initiated coverage of Galaxy Digital (GLXY) with a buy rating and $35 target, driving a 12% weekly gain to $30.50. The divergence highlights selective institutional interest in crypto infrastructure plays as regulatory clarity emerges.