$Circle(CRCL.US) needs to wait until short interest is fully before hitting the bottom. In fact, the stock price has already priced in the decline in net income due to interest rate cuts during the high-level halving phase. Now, there are two main issues: first, USDC's market share has not exploded as expected, and second, short sellers have formed a united front and significantly impacted the market. There's no significant volume, just continuous slow declines, creating a momentum that's very hard to break. For a short-term rebound, only two things can help: first, executives announcing a buyback, and second, the company announcing an adjustment to the non-beneficial profit-sharing system with Coinbase. Without these, it's either continuous slow declines or this is the bottom, forming a box or flag pattern.