The broader market was higher, with the Nasdaq gaining 0.98% and the S&P 500 rising 0.64%.Circle is scheduled to report second-quarter results on Aug. 5. Wall Street expects earnings of 19 cents per share, compared with a loss of 43 cents a year earlier. Revenue is projected to increase to $734.7 million from $658.1 million.Crypto Stocks Hit By Regulatory ConcernsJPMorgan analysts led by Nikolaos Panigirtzoglou estimated the probability of the CLARITY Act passing this session at 37% in a report published Wednesday and cited by CoinDesk.“The longer the approval of the Clarity Act is postponed, the greater the threat to crypto markets from the growth of tokenization and blockchain-based applications eventually being absorbed by incumbent market infrastructure rather than accruing to public crypto networks,” the analysts wrote.Sen. Cynthia Lummis, R-Wyo., also voiced frustration on X on Wednesday ahead of the Senate’s summer recess. “After nearly 11 months of giving almost everything asked of us, I genuinely don’t know what else my Democrat colleagues need before we act,” Lummis wrote.Analyst Cuts Target Ahead Of ResultsAdding to the cautious sentiment, Bernstein on Wednesday cut its price forecast on Circle by 25%, lowering it to $140 from $190 ahead of the company’s earnings report.The stock carries a Buy rating with an average price forecast of $109.58. Recent analyst moves include: