Circle Stock Falls 4% as Crypto Selloff Overshadows SAP Pay Expansion

Circle stock fell sharply Wednesday as weakness across the cryptocurrency market outweighed positive momentum from the company’s expansion into enterprise payments through SAP Pay.

Circle (CRCL) shares traded at $80.65, down $3.47, or 4.13%, at 9:34 a.m. EDT following an extended premarket decline. Investors are now watching Thursday’s U.S. jobless claims report for fresh signals on labor market conditions and potential implications for Federal Reserve policy.

Weekly unemployment claims could influence sentiment toward risk assets. A rise in claims may increase concerns about slowing economic activity, while lower claims could point to continued labor market resilience. Wednesday’s FOMC minutes will also provide details from the Fed’s September meeting, particularly officials’ views on inflation, employment and future monetary tightening.

Friday’s University of Michigan consumer sentiment report will offer another key economic update. One-year inflation expectations previously stood at 4.6%, keeping inflation risks firmly on investors’ radar.

Circle’s decline came as the broader crypto market capitalization dropped 3% to $2.83 trillion amid widespread deleveraging. Bitcoin fell below $84,000, Ethereum traded under $2,600 and XRP slipped beneath $1.45. Solana, Dogecoin and Cardano also declined, while crypto-linked stocks including Strategy, Robinhood and BitMine faced selling pressure.

Bitcoin long liquidations exceeded $137 million, rising more than 150% over 24 hours. Combined liquidations involving cryptocurrency and gold-linked contracts reportedly approached $700 million.

The market weakness overshadowed Circle’s partnership with Tereina to bring USDC and EURC into enterprise payment workflows, beginning with SAP Pay. The integration is designed to support supplier payments and business-to-business transfers while maintaining existing approval, reporting and banking processes.

Technically, Circle stock is testing support around $80.40, with $80 representing the next psychological level. A recovery above $81 could improve near-term momentum, while $82 remains an important resistance area. Sustained strength above that level could bring $83 and $84 back into focus.