On September 25, Circle Internet Corp. fell 5.15% in regular trading, trading at approximately $88.18 per share, with turnover of $2.97 billion. The decline came as the broader crypto-linked equity sector weakened, with peers Strategy down 2.06% and IREN down 5.73%.
The selloff followed growing bearish institutional positioning in the options market. A notable bear call spread netting $399,800 in premium was executed using out-of-the-money calls at the $145/$150 strike range, signaling expectations that the stock's upside is capped. Earlier in the week, a $11.34 million double in-the-money put purchase further underscored institutional hedging against downside risk. Current implied volatility stands at 80.08% with an IV percentile of just 17.53%, while the IV/HV ratio of 0.75 suggests the market is pricing in muted future volatility relative to recent historical moves.
Circle had previously rallied on a series of positive catalysts, including Binance's $100 million equity investment, a new five-year commercial agreement to promote USDC, and the successful launch of its Arc chain — which attracted $700 million in on-chain assets within its first week. However, these tailwinds appear to have faded as profit-taking and macro crypto weakness take hold.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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