Ephrem Joseph
Ephrem began his journalistic journey at Proactive in June 2021. With a strong academic background in Information Technology, his expertise particularly lies in the field of Cyber Security, Management Information Systems and Computer Forensics. Before joining Proactive, Ephrem worked as a researcher and lecturer at a number of leading universities, including the University of Portsmouth's Institute of Criminal Justice Studies, the University of Winchester’s Institute of Policing, and Jain... Read more
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Published: 04:19 12 Nov 2026 GMT
Bitcoin is holding near US$74,000 after another volatile session, with the market absorbing fresh ETF outflows and MSCI’s decision to remove major Bitcoin treasury company Strategy from its global equity indexes.
Bitcoin was trading around US$73,800-US$74,000 on Thursday morning, broadly flat over 24 hours, while Ethereum was near US$2,050-US$2,060.
BNB was around US$680, XRP near US$1.05 and Solana close to US$83-US$84, while total cryptocurrency market capitalisation stood at roughly US$2.45 trillion.
The biggest fresh development is MSCI’s confirmation that Strategy will be removed from the MSCI USA Index at the end of November.
Japan’s Metaplanet and Upexi are also being deleted under new rules covering companies classified as non-operating businesses.
The decision matters because passive funds tracking MSCI benchmarks will need to adjust their holdings.
Strategy estimates MSCI-linked funds hold around 13 million of its shares, equivalent to about 3.1% of shares outstanding, while JPMorgan has previously estimated the exclusion could trigger around US$2.8 billion in selling.
The removal is also significant for Bitcoin because Strategy has become one of the world’s biggest corporate buyers of the cryptocurrency.
Institutional fund flows remain another source of pressure.
US spot Bitcoin ETFs recorded roughly US$109 million of net outflows on November 11, taking seven-day withdrawals to around US$1.66 billion.
BlackRock’s IBIT accounted for about US$79 million of the latest selling.
The continued redemptions suggest institutional demand remains weak even as Bitcoin stabilises after falling below US$74,000 earlier this week.
Despite the weak ETF backdrop, corporate accumulation continues.
Strategy disclosed another purchase of 7,212 Bitcoin worth roughly US$530 million, while Japan’s Metaplanet added another 528 Bitcoin.
That leaves the market caught between two opposing forces: persistent ETF selling and continued accumulation by corporate treasury buyers.
Bitcoin now needs to hold the US$73,000-US$74,000 region to avoid another leg lower, while a recovery above US$76,000 would help improve short-term momentum.
