Why is XRP Price Down? The Real Reason Behind the Drop Despite the XRP ETF Launch

Circle’s (CRCL) stock has erased nearly all of its post-IPO gains, retracing back to its opening price despite strong third-quarter earnings and accelerating USDC growth.

The sharp reversal reflects rising supply pressure, expiring lockups, and a shifting stablecoin market, all while major institutions turn increasingly bullish on Circle’s long-term moat.

Circle Round-Trips Its Entire Post-IPO Rally

Stablecoins remain one of the most promising use cases of crypto, dominated by Tether and Circle. However, the latter, Circle, is the only major issuer that allows public investors to invest, with its IPO in early June attracting an explosive volume of interest or subscription.

Nonetheless, despite initial interest, it has wiped out all the gains. MoonRock Capital founder Simon Dedic noted that CRCL has basically round-tripped its entire run and is now back at its IPO opening price.

The crypto executive also stated that recent price-driven FUD has been amplified by macro uncertainty and the upcoming rate-cut cycle.

He also noted that today marks an unlock for early investors, meaning a significant portion of the supply could enter the market as Circle IPO investors capitulate. In his opinion, this could add short-term volatility but also create attractive entry points.

This round trip brings to mind the fact that Coinbase IPO investors recorded their first profits on July 21, 2025, nearly four years after the company went public.

Strong Q3 Results Contrast with Circle Stock Decline

While the stock retraced, Circle’s fundamentals strengthened. App Economy Insights highlighted Circle’s Q3 numbers:

• USDC circulation up 108% YoY to $74 billion
• Revenue up 66% YoY to $740 million (a $40 million beat)
• Adjusted EBITDA up 78% YoY to $166 million
• USDC circulation still expected to grow at a 40% CAGR

Circle itself reported $9.6 trillion in on-chain volume (+680% year-over-year) and $73.7 billion in USDC circulation. This reflects the rapid global scaling of stablecoin settlement.

Against this backdrop, MoonRock Capital’s Dedic dismissed fears of earnings compression, saying that concerns leaning in this direction are misplaced.

“Seeing quite a bit of FUD from Circle investors lately, mostly driven by price action. Some are also concerned about the upcoming rate cut cycle, which could continue to pressure Circle’s earnings. That’s a mid-curved take, though imo,” he noted.

Insider Unlocks Add Sell Pressure After Early Surge

Elsewhere, Milk Road says part of Circle’s decline is structural. The stock IPO’d at $31, surged to near $240, and then pulled back once initial lockup restrictions expired, allowing insiders to sell at elevated valuations.

Based on this, Milk Road argues that CRCL still “looks overvalued” and that the earnings beat functioned as another “sell-the-news” catalyst.

Others pointed to a massive profitability gap, with Tether producing dozens of times more net income in 2025.

JPMorgan Flips Bullish, Citing Stablecoin Supercycle

Despite heavy price action, institutional interest is strengthening. JPMorgan upgraded CRCL from “underweight” to “overweight,” raising its price target from $94 to $100. Analysts said Circle’s Q3 beat and improving fundamentals justify a more bullish stance.

They highlighted:

• A pipeline of large partnerships tied to Circle’s Arc network, now in testnet
• Interest from firms like Deutsche Börse, Finastra, and Visa
• Potential monetization via a future Arc token
• USDC held on Circle’s platform, surging from $1.1 billion to $9.1 billion YoY
• Newly tradable 160 million shares, increasing float and short-term sell pressure

Even Cathie Wood’s Ark Invest has reportedly bought $30 million of CRCL shares.

Circle sits at the center of crypto’s most established real-world use case, yet faces immediate volatility as insiders unlock their holdings and investors reassess valuation versus competitors.

With institutional adoption accelerating and a major bank raising its target to $100, the next move for CRCL hinges on whether fresh supply is absorbed or triggers one more shakeout before the next leg of the stablecoin supercycle.

The debut of the Canary XRP ETF (XRPC) has become one of the most notable ETF launches of 2025, posting inflows and trading volumes that outperform several major crypto ETFs, including Solana and even some Bitcoin products. However, despite its blockbuster entry, XRP’s market price failed to sustain momentum, dropping sharply after the announcement.

XRP ETF Inflows Outshine Bitcoin and Solana

Canary Capital revealed that XRPC attracted a remarkable $245 million in net inflows on its first trading day. This figure surpassed the inflows of every existing spot Bitcoin ETF, including BlackRock’s IBIT, which recorded $111.7 million, and Bitwise’s BITB at $237.9 million.

The inflows also exceeded expectations set by CEO Steven McClurg, who had previously suggested that XRP demand could match or surpass interest in Solana ETFs. His prediction proved accurate, supported by XRP’s large market cap and deep liquidity.

Record-Breaking Trading Volume

Alongside the inflows, XRPC delivered an impressive $59 million in day-one trading volume, marking the highest first-day volume among more than 900 ETF launches in 2025.

Bloomberg ETF analyst James Seyffart confirmed that XRPC overtook the previous 2025 record held by the Bitwise Solana Staking ETF (BSOL), which saw $57 million. 

Bloomberg’s Eric Balchunas also spotted the surge early, noting XRPC had already crossed $26 million within the first 30 minutes, far above his initial estimate of $17 million.

Canary Capital’s CEO later clarified why volume figures appeared lower than inflows: in-kind creations do not show up in trading volume, explaining the gap between the $245 million in inflows and the $59 million in trades.

XRP Price Falls Despite the Milestone

In a surprising twist, XRP’s price did not benefit from the ETF launch. Instead, it fell 8% in 24 hours, hitting a low of $2.28 before stabilizing near $2.30. Trading volume, however, jumped more than 40%, indicating strong market activity around the debut.

Meanwhile, XRP futures cooled, with total open interest dropping to $3.71 billion, including notable declines on CME and Binance.

Solana Declines as Market Turns Lower

Solana also felt the impact of the broader market downturn. SOL dropped 8% to around $143.56, adding contrast to XRPC’s exceptional debut amid an overall bearish day in the crypto market.

0741 GMT - Bitcoin falls to a six-month low, returning below the key $100,000 level, after U.S. stocks registered their worst day in over a month overnight as tech stocks slumped. Concerns about hefty valuations in AI-related stocks weighed on tech stocks, while uncertainty remains elevated following the reopening of the U.S. government. The end of the record-long government shutdown will allow for the release of a flood of delayed data but it's unclear when they will be released. Meanwhile, remarks from Federal Reserve officials including Neel Kashkari, Beth Hammack and Alberto Musalem raised doubts over another interest-rate cut in December. Bitcoin falls to a low of $96,025, according to LSEG. (renae.dyer@wsj.com)

0738 GMT - A number of eurozone peripheral countries, including Italy, Spain, Portugal, Greece and Ireland, have scope for further credit rating upgrades in 2026, Citi Research's rates strategists say. France, however, is likely to remain mired in a downwards ratings trajectory, they say. Belgium and Austria also face a risk of ratings downgrades, they say. The strategists expect Moody's Ratings likely to be the most active rating agency, followed by Fitch Ratings. Their baseline forecast envisages only one change from S&P Global Ratings of a one-notch downgrade for Belgium. (emese.bartha@wsj.com)

0723 GMT - Yields on shorter-dated U.S. Treasurys are little changed while longer-dated yields rise in Asian trade. Treasurys take clues from remarks from several Federal Reserve members on Thursday suggesting interest rates could stay unchanged in December. Investors also await the resumption of data releases, the timing of which remains uncertain. Markets are "torn" about the Fed's December meeting, with money-market pricing showing a roughly equal chance of a rate cut versus unchanged rates, Danske Bank Research's Kristoffer Kjaer Lomholt say in a note. The two-year Treasury yield edges lower 0.2 basis points to 3.586%; the 10-year Treasury yield rises 1 basis point to 4.120%; and the 30-year Treasury yield rises 1.7 basis points to 4.719%, Tradeweb data show. (emese.bartha@wsj.com)

0720 GMT - Asean's near-term foreign direct investment inflows could face headwinds, UOB's Global Economics & Markets Research team write in a report. Several economies have pledged significant investments to the U.S. to secure tariff exemptions or more favorable trade terms, UOB says. These commitments, along with the Trump administration's push for more U.S. reshoring, may potentially divert capital originally intended for the region. However, Asean remains well-positioned to attract investment flows over the mid-to long-term, UOB says. This is supported by factors including increasing cross-border policy coordination, rising regional integration and engagement with trading partners.(amanda.lee@wsj.com)

0653 GMT - Thailand's economy likely grew 1.5% on year in 3Q, according to the median estimate of nine economists surveyed by The Wall Street Journal, slowing significantly from 2Q's 2.8% expansion. 3Q GDP growth likely slowed due to heightened domestic political uncertainty and rising external pressures, ANZ's head of Asia research Khoon Goh writes in a report. On a seasonally adjusted quarterly basis, 3Q GDP is expected to have contracted 0.3%, compared with 2Q's 0.6% growth, according to the median estimate of five economists. The data is due on Monday.(amanda.lee@wsj.com)

0649 GMT - The unusually divergent fiscal trajectory in the eurozone is partly reflected in current valuations in government bond markets, rates strategists at Societe Generale say in a note. "Germany is expected to pursue an expansionary fiscal policy in the coming years, in contrast to Italy's continued fiscal consolidation," they say. Diverging fiscal paths support a tight yield spread between Italian BTPs and German Bunds, while politics remains the key driver for French OAT-German Bund yield spreads. "While the market is monitoring this closely, near-term drivers are less about deficit targets and more about the [French] government's survival, renewed political instability, and the risk of new elections," the strategists say. (emese.bartha@wsj.com)

0629 GMT - Rates volatility could pick up again, led by U.S. Treasury rates, as the U.S. government shutdown ends, and economic data could surprise to either direction, Societe Generale rates strategists say in a note. "As the economy reboots, expect most action in dollar rates and keep a preference for U.S. Treasurys over Bunds," they say. Upcoming inflation and job reports are pivotal in shaping market expectations of the Federal Reserve's rate path and could break recent ranges, they say. Eurozone rates should stay in the back seat, with resilient data and a relatively clear European Central Bank path keeping volatility muted, they say. (emese.bartha@wsj.com)

0624 GMT - Singapore's non-oil domestic exports likely rose 9.25% on year in October, according to the median estimate of six economists polled by The Wall Street Journal. That would be higher than September's 6.9% growth. Electronics exports likely remained strong amid U.S. tariff exemptions on these goods and firm AI-related demand, DBS's economics team writes in a report. The data is due Monday. (amanda.lee@wsj.com)

0343 GMT - The Malaysian ringgit could trade around 4.10-4.15 against the U.S. dollar in the near term, Kenanga economists say in a note. They expect soft U.S. data, once released, to spur a dovish shift that could weigh on the dollar. Meanwhile, Malaysia's solid trade performance and benign inflation will likely support the ringgit, they say. The economists still expect the Fed to ease next month despite fading prospects of a December rate cut. U.S. fundamentals are weak enough for the dollar to drift lower, they add. Kenanga expects USD/MYR to face resistance at 4.15 and find support at 4.12 in the short term. USD/MYR is 0.1% higher at 4.1320. (yingxian.wong@wsj.com)

0253 GMT - The Singapore dollar consolidates against its U.S. counterpart in the Asian session, but it might be weighed by abating Fed rate-cut prospects. After President Trump signed the bill to end the U.S. government shutdown, uncertainty has emerged about missing economic data, analysts at CIMB Treasury and Markets Research say in a note. The uncertainty has tempered expectations of a Fed rate cut in December, the analysts say. Also, Cleveland Fed President Beth Hammack struck a hawkish tone, stressing the need to keep monetary policy tight to further cool inflation, the analysts add. USD/SGD is little changed at 1.3004, LSEG data show. (ronnie.harui@wsj.com)

0245 GMT - Palm oil prices fall in early Asian trading, weighed by a stronger ringgit against the dollar, AmInvestment Bank says in a note. A firmer ringgit tends to pressure crude palm oil prices, as the commodity is traded in the Malaysian currency. Weakening demand, combined with expectations of higher output, is putting additional pressure on palm oil prices, it adds. AmInvestment Bank sees support for CPO futures at 4,119 ringgit a ton and resistance at 4,136 ringgit a ton. The Bursa Malaysia Derivatives contract for January delivery is 2 ringgit lower at 4,123 ringgit a ton. (yingxian.wong@wsj.com)

0043 GMT - The Philippine peso could be further pressured if a domestic corruption scandal and efforts to root out the crime deter foreign investors, Jason Tuvey, deputy chief emerging markets economist at Capital Economics, writes in a note. The peso has weakened in recent months due to the graft controversy surrounding how public funds meant for flood-control infrastructure allegedly went toward substandard or nonexistent projects. The Philippines' current account deficit has widened to over 4% of its GDP, leaving the peso vulnerable, Tuvey says. The peso could also be weighed by potentially looser monetary policy, as 3Q GDP growth slowed more than expected.(amanda.lee@wsj.com)

A new era for art market information - in the age of AI

PARIS, Nov. 14, 2025 /PRNewswire/ -- At the end of September 2025, Artprice by Artmarket – World Leader in Art Market Information for 28 years – took a decisive step with the launch of Artprice News®: the first global press agency dedicated to art and its market, broadcast in 122 countries and 11 languages in the framework of a far-reaching operational integration with Cision PR Newswire and Perplexity AI.

According to thierry Ehrmann, Founder of Artprice and CEO of Artmarket.com: "With the launch of Artprice News®, we are taking a historic step. Artprice by Artmarket, already the world leader in art market databases for nearly 30 years, is now becoming the leading daily global news agencyfor art news and the art market. This dual approach – authoritative data and continuous information – gives us a unique position to support the transformation of the art market in the age of artificial intelligence."

Comprehensive global monitoring of art news: the combined power of Artprice and Perplexity AI

Artprice by Artmarket's ability to monitor and document all the global news in the art market relies on a highly sophisticated technological infrastructure, the result of a strategic alliance between its own historical databases, its proprietary Intranet connected to 7,200 partner Auction Houses worldwide and, now, on top of its own proprietary AI service, the real-time search capabilities of Perplexity AI. Combining Artprice's Intuitive ArtMarket® AI and its Blind Spot AI® application with Perplexity AI, our latest AI bot is now superior, in many ways to Google due to the quality of the proprietary prompts (several thousand) at its core.

Artprice News: 24/7 global coverage across 122 countries and 11 languages

This strategic deployment represents a major paradigm shift: Artprice is moving from a weekly schedule with its press agency ArtMarket Insight® – which will continue – to a continuous, daily global news feed with Artprice News in 122 countries and 11 languages, with its long-standing partner Cision PR Newswire.

Henceforward, Artprice News readers will have free access to thousands of historical, artistic, scientific and economic analyses from ArtMarket Insight®, which has long proved its value:

A simple free registration is all it takes to become a member of Artprice and access to Artprice News. For a global press agency like Artprice News, this represents an editorial foundation enriched by leading voices from the Art Market, giving it undeniable editorial legitimacy, supported by thousands of historical, artistic, scientific, and economic analyses from the ArtMarket Insight® press agency.

Thanks to Artprice News, Artprice by Artmarket now benefits from a large, high-quality database of members, where the transition from free membership to paid subscription happens naturally.

Indeed, Artprice News features the latest updates on artists, including encrypted hyperlinks that direct readers to the Artprice databases— effectively encouraging members to become subscribers.

This unparalleled distribution power allows Artprice by Artmarket to reach a global audience of enthusiasts and professionals, including collectors, art galleries, auction houses, museums, appraisers, cultural institutions, insurance companies, customs and tax officials, legal advisors, financial institutions and international media, thus consolidating its role as the world's leading daily news agency on the art market.

Artprice's transformation is not limited to the scale of its distribution. It relies on a revolutionary technological infrastructure integrating its proprietary AI applications, Intuitive ArtMarket® and Blind Spot AI®, the fruit of decades of algorithmic development.

This proprietary AI – developed for Artprice and Artprice news – leverages a massive volume of data from its 180 proprietary vector databases. Artprice's algorithms are capable of analyzing billions of anonymized logs, tens of millions of artworks, and identifying extremely complex, cross-cutting artistic trends that elude the academic, institutional, and commercial worlds.

To monitor tens of thousands of daily events specific to art and its market, Artprice news relies on Perplexity AI which allows it to target exactly what the user needs thanks to the thousands of very incisive prompts produced by its proprietary AI Intuitive ArtMarket®.

This synergy makes it possible to achieve a level of informational coverage that now falls under the category of 'scientific certainty' rather than 'high probability'

Perplexity AI, unanimously considered one of the world's leading and most powerful retrieval-augmented generative search engines, continuously indexes several hundred billion web pages across its global infrastructure.

Its hybrid indexing technology, driven by Artificial Intelligence, guarantees exceptional information freshness thanks to an AI-powered content understanding module, which generates and enhances analysis logic in real time in a self-improvement process based on feedback from millions of queries every hour.

In 2024, the platform registered over 650 million queries, demonstrating widespread adoption by professionals demanding accurate and verifiable information. Perplexity AI's processing capability relies on the dynamic use of several leading Large Language Models (LLMs) – GPT-4, Claude 3.5 Sonnet, Gemini, and Grok – enabling optimal adaptation to the nature and hyper-complexity of each Artprice vertical prompt within its deep operational integration.

The scientific approach and deep operational integration between Artprice and Perplexity AI aligns with the French authorities' national ambition to make France the third world power in Artificial Intelligence after the United States and China, embodying a unique convergence between historical expertise and cutting-edge technological capabilities.

This association is part of Artprice's 2025-2030 strategic plan and provides for deeper progressive integrations between Artprice's 180 respective proprietary databases – including its Intuitive ArtMarket® AI and Blind Spot AI® technology – with Perplexity AI's constantly evolving advanced global search capabilities, including its agentic browser Comet®.

In concrete terms, this infrastructure allows the editorial team of the global press agency Artprice News and ArtMarket Insight® – composed of specialist writers, investigative journalists, art historians and econometricians – to monitor all macro and microeconomic events in the art market round the clock.

So, Artprice News covers, among other things, international museum exhibitions, art fairs, economic and financial movements on primary and secondary art markets, institutional appointments, discoveries of works, controversial appraisals, market information leaks and legal and fiscal developments regularly affecting the art market all over the world.

Perplexity AI's global geographic coverage – with a particularly strong presence in the US (22.50% of traffic), Europe (13.84% of traffic) and over 120 other countries – ensures a diversity of sources and perspectives that no centralized system could match.

Human editorial expertise remains the ultimate filter and guarantee of quality.

Each article published by Artprice News is the result of in-depth work by its editors, journalists, historians, and econometricians, who use Perplexity AI in tandem as a comprehensive monitoring and documentation tool, drawing on databases that form Artprice's news feeds. They consistently apply their critical judgment, industry knowledge, and analytical rigor to produce original, contextualized editorial content, enriched by Artprice's 28 years of expertise as the World Leader in Art Market Information.

Thierry Ehrmann, founder of Artprice and CEO of Artmarket.com, has always stated "there can be no Artificial Intelligence without human intelligence", and Artprice firmly believes this principle should guide the responsible and enlightened use of such technologies in the service of journalistic excellence.

The virtuous circle of global indexing: how Artprice News, PR Newswire and Perplexity AI are creating the best possible information ecosystem for the art market.

The deep operational alliance between Artprice News, its historical partner PR Newswire (Cision) and Perplexity AI creates an unprecedented information ecosystem, based on a virtuous strategic circle of indexing, dissemination and editorial enhancement that simultaneously benefits the three players and, above all, end-users worldwide.

This synergy is based on a sophisticated technical architecture which ensures that art market news – produced daily by the Artprice News teams – achieves optimal global visibility, while simultaneously feeding the search capabilities of Perplexity AI with exceptional reference content, respecting the copyright of Artprice News.

With nearly 30 years of experience, Artprice by Artmarket has established itself as the leading global source of art market information. Its strength rests on its unique and unparalleled foundations:

- Over 35 million auction results and indices covering more than 890,000 artists

- The world's largest documentary archive (owned by Artprice): 210 million images and engravings of works of art from manuscripts and auction catalogues from 1700 to the present day

- A global network of 7,200 partner auction houses continuously updates its databases via its dedicated Intranet, reaching over 9.3 million members worldwide.

This unique position within the Global Art Market was recognized, among other destinctions, by a reputational study conducted during the 36th Congress of the International Committee of Art History (CIHA, Lyon 2024), where Artprice ranked as the Top of Mind art market information source among more than 1,000 participants from 60 countries.

Artificial Intelligence at the heart of an editorial revolution

Artprice's transformation is not limited to the scale of its distribution. It relies on a revolutionary technological infrastructure integrating its proprietary AI applications, Intuitive ArtMarket® and Blind Spot AI®, the fruit of decades of algorithmic development.

This proprietary AI, developed for Artprice News to optimize its vertical news feeds (among other uses) and structured with highly sophisticated data from Perplexity AI, leverages a massive volume of data from its 180 proprietary vector databases. Artprice's algorithms are capable of analyzing billions of anonymized logs, tens of millions of artworks, and identifying extremely complex, cross-cutting artistic trends that elude the academic, institutional and commercial worlds.

Tokenization of historical data for Artprice's 2026 Annual Art Market Report

Artprice possesses the world's largest collection of manuscripts and auction catalogues, dating from 1700 to the present day. Appraised by a leading specialist in 2025, this unique collection has been valued at 43 million euros and is the art market's equivalent of the Great Library of Alexandria, representing an exceptional heritage that is currently being integrated into its proprietary AI, Intuitive ArtMarket®, with systematic tokenization of historical information, notably ahead of Artprice's 32nd Annual Report on the Global Art Market, scheduled for publication in March 2026.

This tokenization process has already been completed for 18 million high-quality images, all analyzed and annotated by Artprice historians and experts, contributing to a unique corpus of historical information that allows our loyal users to discover new and previously unexplored dimensions of the art market.

Institutional recognition and our 2025-2030 vision

Artprice by Artmarket has twice been awarded the "Innovative Company" label by the French Public Investment Bank (BPI). The company aims for a third award in 2026, confirming its leadership in technological innovation applied to the art market.

At the World Summit for Action on Artificial Intelligence, hosted by France in February 2025, Artprice presented its 2025-2030 strategic plan, which positions the company as a global leader in AI for art market information. This roadmap envisions the development of multiple energy-efficient and highly specialized AI systems, each tailored to one of Artprice's departments, thus creating an unparalleled AI ecosystem in its sector.

PR Newswire's global infrastructure: 122 countries, 11 languages: an unparalleled network

After 28 years of collaboration with PR Newswire (Cision) for the distribution of its press releases, the deployment of Artprice News in 122 countries and 11 languages relies primarily on PR Newswire's global infrastructure as the world's largest press release distribution network for over 70 years. This distribution power is based on its unparalleled technical and relational foundations in the industry:

• A global media network with more than 500,000 broadcast points.PR Newswire boasts the world's largest distribution network, encompassing over 440,000 newsrooms, news feeds and professional subscribers. This network includes direct partnerships with the world's leading news agencies such as AFP, DPA, Associated Press, Reuters, and Bloomberg, ensuring the full redistribution of news stories via the platform. These stories are then disseminated to over 8,000 news sites, including Yahoo! Finance, Google News, MSN, Wall Street Online and hundreds of other high-traffic news platforms.
• Comprehensive linguistic and geographical coverage.Unlike other distribution services that are limited to a few markets, PR Newswire covers more than 122 countries and 11 languages, enabling Artprice, and now Artprice News, to disseminate its analyses and news in the 11 strategic languages of the global art market for the past 28 years: French, English, Spanish, German, Italian, Portuguese, Chinese, Japanese, Korean, Arabic, and Russian. This multilingual capability is essential for reaching collectors, institutions, and professionals in their native languages, from the Persian Gulf to the Asia-Pacific region, and from Latin America to Eastern Europe.
• Real-time alerts to more than 440,000 newsrooms, websites, live feeds, journalists and 270,000 bloggers and influencers.Every news item published by Artprice for over 28 years, and now Artprice News via PR Newswire, is instantly notified to over 710,000 journalists, newsrooms, bloggers and influencers listed in Cision's proprietary database, segmented by nearly 200 sectors and areas of expertise.These media professionals are alerted in real time via the PRNewswire For Journalists (PRNJ) platform according to their personalized selection criteria (topic, country, language, sector). For the art market, this means that every record-breaking sale announcement, every emerging trend, every institutional appointment identified by Artprice News immediately reaches specialized journalists in art media, the culture sections of national newspapers, luxury magazines, and international financial publications.

SEO excellence and AI-powered indexing: PR Newswire's technical dominance

Beyond human dissemination, PR Newswire's technical infrastructure ensures exceptional visibility in traditional search engines and new AI-augmented search engines, creating the essential bridge to Perplexity AI and its users.

Absolute leadership in SEO and AI search:

An exhaustive independent analysis conducted by Semrush (considered the best SEO software suite by 35% of its S&P 500 clients) in October 2025, demonstrated PR Newswire's overwhelming dominance over all its competitors in critical areas of digital visibility.

This technical performance explains why Artprice News dispatches, once distributed via PR Newswire, benefit from rapid indexing, optimal ranking and sustained visibility in search results. Artprice press releases since 1999, and now Artprice News itself, distributed via PR Newswire, frequently appear in featured snippets on Google, Google News and Google Discover, significantly increasing their organic visibility.

For over 28 years, Artprice has patiently built and expanded its global network with thousands of hours spent with its teams and those of Cision PR Newswire.

Artprice News content, which focuses on the Art Market – a YMYL (Your Money, Your Life) field, where the accuracy of information is critical for the financial decisions of collectors and investors – thus benefits from a considerable boost in authority and credibility simply by its association with the PR Newswire platform.

Perplexity AI: real-time indexing and free access to Artprice News dispatches

It is precisely this excellent SEO performance, multi-channel distribution and editorial authority that makes Artprice News dispatches particularly attractive to AI-enhanced search engines like Perplexity AI.

• Hybrid indexing powered by Perplexity AIUnlike traditional generative AI models that rely solely on pre-trained (and often outdated) data, Perplexity AI performs real-time web searches using its AI-driven hybrid indexing infrastructure.This informational freshness is exceptional: nearly 780 million monthly searches, guaranteeing the most recent information, including Artprice News dispatches published just a few minutes ago, immediately available to its users.
• Selection and citation criteria by Perplexity AI.When faced with a user query, Perplexity AI does not simply find relevant pages: it selects, prioritizes and cites the sources it deems the most reliable and relevant.

• • • High Domain Authority: Perplexity AI prioritizes sources from high-authority domains. Artprice.com, Artmarket.com, and PRNewswire.com, with their exceptional authority as demonstrated by Semrush (more referring domains than all their competitors), benefit from an 'authority score' that automatically places their content in a favorable position.
• Reliability and sources verifiability: studies on Perplexity AI demonstrate that it exclusively favors recognized academic, institutional and journalistic sources. Artprice, with its 28 years of global authority on the art market and its 180 proprietary and authoritative databases, perfectly matches the profile of an extremely reliable source that Perplexity AI naturally seeks.

Perplexity AI's free access to Artprice News dispatches: a win-win strategy

For Perplexity AI: access to exceptionally authoritative, constantly updated content covering a specialized field (the art market) with unparalleled expertise. Artprice News dispatches allow Perplexity AI – while respecting Artprice's copyright – to respond accurately, reliably, and up-to-date to the tens of thousands of daily queries concerning auctions, sales records, art trends, major exhibitions and the economics of the art market. Perplexity AI can thus offer its users world-class information, free of charge, which enhances the quality of its service and the loyalty of its 300 million active users, encouraging them to subscribe to Artprice, particularly through its Comet® agentic browser.

For Perplexity AI users: when a user asks Perplexity AI a question related to the art market – such as "What are Basquiat's recent sales records?" or "What are the principal trends in the contemporary art market in 2025?", or "Who won the Marcel Duchamp Prize this year?" – the AI will systematically scan, select, and quote Artprice News dispatches distributed via PR Newswire, as these represent the most authoritative, up-to-date, and reliable sources available on the web. Users thus benefit from exceptionally high-quality answers sourced from the world leader in art market information, with clickable quotes allowing them to directly access the full dispatches for further research.

For Artprice News: each citation by Perplexity AI represents editorial validation by AI, signaling to hundreds of millions of monthly users that the authoritative art market information comes from Artprice. This massive visibility, combined with the quality backlinks generated by the citations (both within the Perplexity AI interface and in articles by journalists who use Perplexity AI and its agent-based Comet® browser for their research), creates a virtuous circle of reputation and authority.

• Global distribution via PR Newswire → optimal indexing by Google, Bing and other traditional search engines + alerts to 710,000 journalists.
• Excellent SEO performance → high visibility in organic searches + priority indexing by Perplexity AI.
• Frequent citations by Perplexity AI → massive exposure to 100+ million monthly users + qualified traffic to the full news stories.
• Highly qualified traffic and engagement → potential new subscribers for Artprice subscription-based services + increased domain authority.
• Increased authority → even more frequent citations by Perplexity AI and accumulated media coverage → the virtuous circle perpetuates and amplifies itself.

Evidence of the virtuous circle: performance measures and empirical validation

This virtuous circle is not theoretical: it is measured, documented and quantified by independent data:

• 12,600 media mentions in 6 months: A case study published by Cision PR Newswire demonstrates that Artprice obtained more than 12,600 media mentions worldwide in six months thanks to its distribution via PR Newswire, with whom it has been a preferred partner since 1999, an exceptionally high figure that testifies to the massive use of its content by international media.
• Double the mentions in AI search: PR Newswire generates twice as many mentions in AI-assisted searches as its competitors, empirically confirming that content distributed via this platform – including Artprice dispatches – benefits from maximum visibility in search engines like Perplexity AI.
• Higher qualified traffic: Studies on user behavior show that traffic from Perplexity AI has above-average session time and engagement, as users arrive already convinced of the relevance and reliability of the cited source.
• Perplexity AI's exponential growth: with growth from 650 million annual queries in 2024 to 780 million monthly queries in 2025, and a valuation of $9 billion after only three years in existence, Perplexity AI is establishing itself as the third largest global search ecosystem, multiplying Artprice News' potential exposure accordingly.

A triangle of excellence dedicated to providing authoritative information on the Art Market

In conclusion, the ecosystem formed by Artprice News (28 years of editorial expertise and its proprietary AI), PR Newswire (global infrastructure and SEO excellence) and Perplexity AI (real-time indexing and AI-augmented search) constitutes a unique model in the information industry.

A highly virtuous triangle:

By allowing Perplexity AI free access to its dispatches, Artprice News is not engaged in philanthropy; the company is strategically investing in its position as a global reference source cited by Artificial Intelligence, ensuring that every professional, collector, investor or art enthusiast who queries an AI application about art market-related matters receives a response citing Artprice by Artmarket as a global authority source. This exceptional visibility will inevitably translate into a growth in paid subscription to Artprice's services.

Hundreds of millions of users worldwide – whether using Google, Bing, Perplexity AI or other platforms – thus gain access to the most reliable, up-to-date and comprehensive art market information, exclusively sourced from Artprice.

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Bitcoin fell below $100,000. It is now approaching a Bitcoin death cross, a technical event where the 50-day SMA crosses below the 200-day SMA.

Historically, this pattern has often appeared near market bottoms. However, the macro environment and the market structure of 2025 are no longer the same as in previous cycles. This raises a critical question: Is this the actual bottom, or merely one step in a more extended capitulation phase?

Death Cross Incoming: Data, History, and Short-Term Outlook

Several analysts have been watching the approaching Bitcoin death cross. The 50-day SMA is expected to cross below the 200-day SMA within the next few days.

According to analyst Colin, the upcoming Bitcoin death cross is expected around mid-November, which means it is only 1–2 days away. Before it happens, Colin expects BTC to decline further, with altcoins potentially dropping even more. This aligns with BTC’s recent retracement below $100,000.

Multiple observations also support the idea that BTC typically forms a bottom around such events, although timing may vary. Another analyst on X detailed the pattern’s occurrence over the past 7 years.

Between 2018 and April 2025, Bitcoin has experienced at least eight death cross events. Each time, BTC formed a local bottom within 5–9 days and rallied at least 45% from the lows. If we consider the recent dip below $100,000 as a local bottom, projections suggest BTC could rise to at least $145,000 afterward.

Supporting this view, analyst Ash Crypto noted that in the last three death crosses, Bitcoin bottomed within a week before rallying strongly to new all-time highs.

However, some analysts present a more cautious scenario. Another X user points out that while the Bitcoin death cross is indeed about to form, the average maximum loss following the cross is typically over 30% within 12 months. Historically, BTC takes an average of 141 days to reach a peak after a cross.

If the death cross occurs in mid-November with BTC hovering around $100,000, this model suggests a potential retracement toward the $70,000 region. A new upward cycle may then resume.

Future Scenarios: Quick Capitulation Followed by Recovery, or a Prolonged Downtrend?

If the Bitcoin death cross aligns with a final capitulation flush, history suggests a sharp rebound in the weeks that follow. Conversely, if macro conditions worsen, the death cross could instead signal a deeper correction, consistent with the historical average drawdown of roughly 30% within a year.

It is also essential to note that a death cross is primarily a timing indicator, not a guarantee of a bottom or a top. Traders should consider factors like trading volume, RSI/MACD divergences, on-chain activity, and stablecoin liquidity. These help assess the probability more accurately.

At the current moment, the higher-probability scenario is a short-term capitulation, followed by the formation of the Bitcoin death cross, and then a strong rebound. Still, short-term traders should manage risk carefully: set appropriate stop-loss levels and wait for recovery confirmation, such as a daily close above the SMA50 with rising volume, before allocating heavily.

Cathie Wood's Ark Invest purchased $15.56 million worth of Circle Internet Group shares on Thursday, along with millions of dollars in BitMine and Bullish shares, across three of its exchange-traded funds.

Ark Invest's Thursday trade filing shows that the ARK Innovation ETF (ARKK) bought 130,595 shares of Circle, while the ARK Next Generation Internet ETF (ARKW) added 38,313 Circle shares to its portfolio. The ARK Fintech innovation ETF (ARKF) also purchased 20,033 Circle shares.

The three ETFs also bought 242,347 shares of BitMine Immersion Technologies Inc., worth roughly $8.86 million, and 177,480 shares of Bullish valued at $7.28 million.

Ark’s purchases came as all three stocks fell sharply on Thursday. Circle closed down 4.59% at $82.34, according to The Block's price page. BitMine dropped 9.86% to $36.57, while Bullish fell 9.85% to $41.02.

Earlier this week, Circle reported strong third-quarter results, posting $740 million in total revenue, up 66% year-on-year. Its net income surged 202% to $214 million. USDC circulation ended the quarter at $73.7 billion, up 108% from a year earlier.

Analysts at investment bank William Blair gave Circle an "outperform" rating for its stock in a Wednesday report, saying they view the company as a clear leader in a winner-take-most market as it builds out key infrastructure, including the Circle Payments Network and Arc.

On Wednesday, Circle said it is "exploring the possibility" of launching a native token for its Arc blockchain as part of a broader push to expand onchain programmable finance. The company rolled out the Arc public testnet last month for its stablecoin-centric Layer 1 chain.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.