It is remarkable that Circle has increased by 86% in the past month. On Monday alone, it jumped by 9.7%, and this movement is not just a simple pump, there are several factors behind it.

Firstly, tensions in Iran pushed oil prices up by 35%. As a result, inflation expectations increased and the likelihood of the Federal Reserve delaying interest rate cuts grew. A high interest rate environment benefits stable currencies because they earn more returns than dollar investments. So, investors acting out of greed quickly caught this dynamic.

But the most interesting part is the trader positions. According to Markus Thielen, an analyst at 10x Research, fund managers had accumulated large short positions before earnings. When the company's Q4 results came out strong, these short positions started to get squeezed. Currently, short positions make up 13% of the circulating shares. The squeeze mechanism seems to be working at full throttle.