Circle (CRCL): Why Did This Crypto Stock Drop 8% Today?

According to CoinWorld, affected by the overall downturn in the cryptocurrency market, the stock price of a certain exchange fell by 8% on Thursday, bitcoin price dropped below $85,000, and spot trading volume also declined. Analysts pointed out that as large institutions such as JPMorgan and Fidelity plan to launch their own stablecoins, market competition is becoming increasingly fierce. Despite the decline in stock price, Wall Street's general rating for CRCL remains "Buy," with a 12-month average target price of $135-138, indicating a potential upside of more than 85%.