CRCL, Coinbase Stocks Drop as Bitcoin Falls Below $80K

Bitcoin slid below the key $80,000 level after failing to clear major resistance, triggering broad crypto selling and pressuring crypto-linked equities. U.S. labor data (weekly jobless claims 200,000 vs. 205,000 expected) softened hopes for near-term Fed rate cuts, lifting borrowing-cost concerns and hurting risk assets. The total crypto market cap fell ~1.34% to about $2.66 trillion. Circle-related stock CRCL plunged over 7% toward $112.58, with analysts watching $110–$108 support, while Coinbase (COIN) dipped ~2.45% to $193.10 ahead of earnings, trading between technical resistance near $198 and support around $190. Overall market tone is bearish as macro data reduced rate-cut expectations and sparked downside momentum across crypto and related stocks.