I’m taking a side: MSCI removing Strategy from its indices isn’t just an index adjustment—it’s cutting off funding for the crypto treasury model. The reasons are on the record: KuCoin’s November 12 morning briefing said MSCI announced that Strategy and Metaplanet would be removed from the relevant indices after the market close on November 30, putting pressure on treasury companies’ financing model. $BTC is currently around $73,700, holding above the 200-day moving average at $73,100, while spot ETFs have seen outflows for four straight days. Why it matters: Treasury buying has been a major source of demand this year, and cutting it off would directly remove marginal buying pressure. The next thing to watch is whether $73,000 holds. Which side are you on: wait and see until the change takes effect on November 30, or do you think the drop near $73,000 has mostly run its course? #比特币 #MSCI #市场观察 For informational purposes only; not investment advice.