Circle shares under pressure: $90 support versus Fed rate hike risk
- —CRCL closed at $90.60 (+0.31%), down 11.22% for the week
- —Probability of a Fed rate hike on September 15-16 is about 87%
- —Circle's Q2 reserve income was $668M (+5.3% year-on-year)
- —Average reserve yield fell 66 basis points, while USDC grew 25.2%
Why it matters: The Fed's decision and the CLARITY Act vote will shape CRCL and the broader crypto sector next week.
Source: Blockonomi