With new MSCI rules looming, MicroStrategy (MSTR) shares plunged nearly 9% at one point this week, weighing on the crypto market. MSCI plans to remove non-operating investment companies from its indexes, putting MicroStrategy’s business model squarely in the crosshairs. The final list is expected to be announced next month. If excluded, passive funds tracking the index may be forced to reduce their holdings. The market is concerned that this could trigger selling pressure on the company’s massive Bitcoin holdings. $BTC briefly fell back to around $81,000, while long liquidations across the crypto market exceeded $700 million over 24 hours. Market sentiment has turned cautious in the near term, and volatility may increase amid elevated leveraged positions. $ETH $MSTR is for informational purposes only and does not constitute investment advice.