Bitcoin (BTC) dropped 2.30% to $91,550 despite positive signs like a $280 million BTC accumulation move and MSCI keeping crypto treasury companies in its indexes. MSCI’s decision to no longer adjust index weightings to reflect new shares will limit passive demand for Strategy’s stock, impacting its ability to raise capital for Bitcoin purchases.

Technically, Bitcoin retreated after testing the upper trendline of an ascending triangle pattern but held above the 50-day EMA at $91,700. Failure to maintain momentum could lead to a drop to $88,000-$89,000 in January. Further breakdown could result in a downtrend towards $79,450, according to analysis.

Read more at Cointelegraph: Bitcoin Price Falls Despite ‘Really Bullish’ MSCI Update: What Went Wrong?