MSCI Decision Fails to Lift Bitcoin as Uncertainty Persists

Bitcoin's price dropped to near $91,550 on Wednesday, despite index provider MSCI deciding to keep cryptocurrency treasury companies in its global benchmarks.

MSCI had proposed excluding such firms from its indexes back in October, which led to uncertainty and market pressure. However, the decision was reversed on Tuesday, ending three months of uncertainty.

The news removed a significant source of uncertainty that had been weighing on crypto markets since October. Analysts had warned that exclusion could trigger $10 billion to $15 billion in forced selling as passive funds divested.

Strategy shares rose 6% in after-hours trading following the news, but had fallen 4.1% during Tuesday's session.