The weekend went by relatively calmly for crypto: Bitcoin made a good rebound from 80 to 88k after that accelerated drop, which was logical, as it is impossible to keep falling at such a pace.
Along with Bitcoin, altcoins also rebounded well, where one could take 15–25% movement on many coins.
Most likely, globally until mid-January we will continue to be in a downward trend with similar bounces, as a decision from MSCI regarding DAT companies is expected on January 15.
And now Flash crash
Many associate October 10 with Trump's statement on tariffs against China, but that was only part of the story. Much more important is another fact — on the same day, MSCI published a document that questioned the status of DAT companies (such as MSTR): whether to consider them full-fledged companies or still funds.
Why is this critical?
Because DATs are one of the main buyers in this cycle. Their model is simple: you become large → you enter indices → passive funds are obliged to buy your shares → capitalization grows → you enter even more indices → the cycle repeats.
And here is the problem:
If MSCI decides to classify DAT companies as funds, they will automatically be excluded from all indices, and all index and pension funds will be forced to sell their shares.
Moreover, such companies will never be able to enter the indices again — which means they lose their main source of demand and reason for existence.
That is why the market continues to fall even against the backdrop of other bullish news: major players see a threat to the entire structure of the cycle and have started to exit positions. The market is currently in a waiting mode, and in fact, the MSCI decision will set the future direction of the crypto market.
