Shares of Circle Internet Corp. (CRCL) slid 5.10% in pre-market trading on Tuesday, reversing recent gains as a broader pullback in digital‑asset markets weighed on the USDC issuer.

The decline mirrored weakness across the crypto space, where Bitcoin exchange‑traded funds snapped a seven‑session inflow streak with more than $465 million in outflows on July 23 and 24. Rising expectations of further Federal Reserve interest‑rate hikes and renewed geopolitical uncertainty in the Middle East have dampened risk appetite, pushing Bitcoin briefly below the $65,000 level.

The cautious mood overshadowed positive company‑specific news for Circle, which on Monday announced the acquisition of IBM’s blockchain patent portfolio—making it the largest holder of such patents in the United States. The deal, which adds over 1,000 patents to Circle’s intellectual property, had initially been seen as a long‑term strategic win, but near‑term macro headwinds took precedence for traders in the pre‑market session.