Circle Stock Surges 6.72% as OCC Issues Final Rule, Bitcoin Rallies

Circle Internet shares rose 6.72% to $91.79 on Wednesday, according to Benzinga Pro data, as the Office of the Comptroller of the Currency (OCC) issued a final rule implementing the GENIUS Act and Bitcoin rallied. Bitcoin traded at $84,618.75, up 2.03% over 24 hours. The Nasdaq gained 1.11%, and the S&P 500 rose 0.44%. The OCC's final rule covers payment stablecoin issuance and related activities by entities within its jurisdiction. The agency also revised weekly and quarterly reporting forms for permitted payment stablecoin issuers, initially proposed in June 2026. Subject to approval by the U.S. Office of Management and Budget, the weekly form takes effect for the January 25, 2027, report date, and the quarterly form for the March 31, 2027, report date. Needham analyst John Todaro maintained a Buy rating on Circle on Wednesday, raising his price target to $134 from $130. At the $90.40 price used for technical analysis, Circle traded 7.3% above its 20-day simple moving average of $84.30 and 5% above its 200-day simple moving average of $86.13. The stock's position above major moving averages kept the intermediate trend positive. The 20-day simple moving average remained below the 50-day simple moving average, a bearish crossover indicating the stock was still recovering from earlier weakness. Circle shares remained down 30.34% over the past 12 months. Investors expecting gains typically look for progressively higher peaks above the late-summer and early-fall pivot area. Technical resistance stands at $100, a round-number level where rallies often stall as traders take profits or reassess positions. Technical support stands at $78.50, an earlier buying area near the stock's recent lower trading range. The Technology sector declined 3.47% over the past 30 days but gained 5.40% over the past 90 days, consistent with a decline followed by recovery.