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📊 Four Major Earnings Reports Next Week—But Circle Is the One That Matters Most Next week's lineup includes: • Palantir • AMD • SpaceX • Circle The first three will provide more insight into AI demand, but much of that story has already been reflected in recent Big Tech earnings. At this stage, they're more about confirming expectations than creating a new narrative. Circle is different. Recent crypto earnings have painted a mixed picture: • Coinbase revenue fell 18.5%. • Robinhood's crypto revenue dropped nearly 40%. • $USDT growth has slowed. The common takeaway is that crypto activity has weakened—but one key question remains unanswered: Has capital actually left the market, or has it simply moved into a different vehicle? That's where Circle's results become critical. If USDC circulation continues to grow, it suggests capital is still on the sidelines, waiting for compliant opportunities rather than exiting crypto altogether. If USDC supply also contracts, it would point to genuine net outflows and a broader decline in stablecoin liquidity. This isn't just another earnings report—it's a window into institutional positioning and the health of crypto liquidity. The size and growth of compliant stablecoins may be one of the market's most important leading indicators. $BTC $ETH #30YYieldAt19YHigh #SpaceXUnlockLooms