Bitcoin Drops Amid MSCI Relief, Strategy Shares Surge

Bitcoin's price dropped to near $91,550 on Wednesday after index provider MSCI announced it would maintain its current treatment for digital asset treasury companies.

This decision ended three months of uncertainty that had been weighing on markets since October. Analysts had warned that exclusion from the indexes could trigger $10 billion to $15 billion in forced selling as passive funds divested.

Despite the relief provided by MSCI's announcement, Bitcoin's decline suggests other factors may be driving recent market weakness, including profit-taking after early January gains.

Strategy shares rose 6% in after-hours trading following the news, while Strategy holds 673,783 BTC worth approximately $62 billion, representing 99% of its enterprise value.