COIN and CRCL Stock Outlook as BlackRock Downgrades US Stocks, Shifts to US Treasuries

Crypto stocks such as Coinbase (NASDAQ: COIN) and Circle (NYSE: CRCL) are in focus after asset management giant BlackRock downgraded US equities and upgraded US short-term Treasuries.

BlackRock’s shift comes as the yield on US Treasuries continues to surge, weighing on risk assets including crypto and equities.

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BlackRock Downgrades US Stocks

BlackRock has upgraded US short-term Treasuries to overweight amid a rise in 10-year Treasury yields to above 5%.

The upgrade ends the underweight rating that the $15 trillion asset manager has held for six years since October 2020, when the 10-year yields stood at around 0.9%.

To fund this upgrade, BlackRock closed its long-held overweight rating on US equities such as CRCL and COIN stocks and downgraded to “neutral.”

“This is a short-term risk-management move, reflecting our belief that investors must be more dynamic in today’s volatile macro and market regime,” BlackRock said.

The downgrade comes as US-listed crypto stocks trade below their 2026 highs. COIN stock price is down by 23% year-to-date. CRCL stock is up slightly by 0.9%, underperforming the S&P 500, which is up by 13.8% during the same period.

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COIN Stock Prediction as Bulls Attempt a Bullish Breakout

The one-day chart for COIN stock price shows that the shares have been stuck in a downtrend since late September.

However, the price closed above the resistance at the upper trendline on October 13. Holding this trendline as support and then closing above the obstacle at $184 could support another bullish leg towards $200.

The breakout from the descending channel also comes after Morgan Stanley raised its COIN stock target to $258 ahead of the company’s Q3 earnings results.

Still, the downward-sloping ADX line suggests that the trend remains weak despite a surge in buying pressure for the last three trading days. If Coinbase shares slip back into the descending channel and lose support at the lower trendline, the price could drop to $163.

CRCL Stock Prediction as Key Support Holds

CRCL stock price has bounced from the crucial support level at $79. The shares are trading at $84 in pre-market trading as the downtrend loses strength.

Circle shares are now targeting the resistance at $86 on the four-hour chart. Closing above this resistance could precede a bullish leg to $97.

The CMF line, albeit being negative, is making higher lows, suggesting that the selling pressure is becoming weak. The AO bars also suggest that the bearish momentum is becoming weak.

CRCL stock could invalidate this bearish thesis if it drops below $79. Such a move could trigger a downward move towards the August low of $71.