Essential Guide: Bitcoin Price Falls Despite 'really Bullish' Msci Update: What Went...

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.

Previously, when companies like Strategy issued new equity to raise capital for Bitcoin purchases, passive funds tracking MSCI indexes were required to buy a portion of those shares, creating steady demand.

Under the new rules, this automatic buying no longer applies, reducing a key source of passive demand for Strategy’s stock.

Put simply, the Michael Saylor–led company will likely face limits on its ability to raise capital for additional Bitcoin purchases, prompting analyst Crypto Rover to say that the “MSCI fooled everyone” with their announcement.

“For those who are thinking this is a small deal, Strategy issued $15 billion+ in new shares in 2025,” he wrote in a Wednesday post, adding:

From a technical perspective, Bitcoin pulled back after testing the upper trendline of its prevailing ascending triangle pattern.

As of Wednesday, BTC held above its 50-day exponential moving average (50-day EMA, the red wave) at about $91,7000, which acted as near-term support.

Source: CoinTelegraph