Bitcoin price falls despite ‘really bullish’ MSCI update: What went wrong?
MSCI’s rule change on newly issued shares reshapes passive demand, raising questions over how Bitcoin-linked treasury companies fund future BTC purchases.
Bitcoin (BTC) fell 2.30% on Wednesday, hitting an intraday low near $91,550.
The decline came despite bullish signals, including a whale-linked $280 million BTC accumulation move and MSCI’s decision to keep crypto treasury companies in its benchmark indexes.
In the Tuesday announcement, MSCI said it will no longer adjust index weightings to reflect newly issued shares.