Circle Stock Crashes: Ark Dumps Shares as Fed Rate Cuts Spark Market Jitters

Stablecoin giant Circle faces a brutal sell-off as Cathie Wood's Ark Invest bails—just as the Fed signals dovish turns ahead.

Blood in the water for crypto-correlated stocks

Ark's exit mirrors growing institutional skittishness, despite Circle's USDC dominance. The Fed's looming rate cuts might've spooked traders more than any balance sheet—because who needs fundamentals when central banks flip-flop every quarter?

Circle's stock plunge proves even stablecoin anchors aren't immune to market tides. Watch this space as crypto and traditional finance keep their dysfunctional dance going strong.

Circle stock price analysis

CRCL stock chart | Source: TradingView

The hourly chart shows that CRCL has dropped from its all-time high of $298 to $192. On a positive note, the stock found support at the 50% Fibonacci retracement level, NEAR $180.

It has also formed a falling wedge pattern, defined by two descending and converging trendlines. This is generally viewed as a bullish reversal formation in technical analysis.

If buyers step in, Circle stock could resume its uptrend. The next level to watch WOULD be the all-time high of $298. A continuation of the rally is possible ahead of earnings and as interest in stablecoin infrastructure persists.