Bitcoin traded near $73,660 on Thursday after recovering from a low of $72,787 following hotter-than-expected U.S. consumer price index data. The cryptocurrency remained below $74,000, a level it has failed to hold this week, while traders monitored Federal Reserve rate expectations, exchange-traded fund flows and MSCI’s decision on Strategy Inc. (NASDAQ:MSTR).

Bitcoin fell sharply on Tuesday afternoon after the inflation report. It later recovered and traded between $73,000 and $74,000 on Wednesday, reaching approximately $74,600 at 12:25 p.m. EST, up about 2% for the day. The cryptocurrency tested $74,000 four times after the sell-off but lost momentum on each occasion.

Bitcoin’s market value was just under $1.5 trillion at the peak of Wednesday’s rebound. It remains below its opening price for the year, which was nearly $87,600.

The inflation data also changed interest-rate expectations. Markets are now pricing in additional Federal Reserve rate increases, with one potentially arriving as soon as December. Higher rates generally reduce demand for assets that do not generate yield, including cryptocurrencies.

Strategy Set for Removal From MSCI Indexes

MSCI confirmed that Strategy will be removed from its global indexes. The index operator said companies such as Strategy operate more like investment funds. Strategy shares fell 4% in after-hours trading Wednesday, closing at $116.69. Index deletions carry weight because funds that passively track MSCI benchmarks hold the affected shares and typically rebalance once a constituent is removed, turning a classification decision into potential forced selling.

Reuters reported that MSCI will also remove Japan-based Bitcoin treasury company Metaplanet and U.K.-based uranium investment company Yellow Cake from its global indexes. The changes are expected to take effect as part of MSCI’s index review.

Wu Blockchain shared the report on X:

“MSCI to Remove Strategy and Metaplanet From Indexes, Potential MSTR Outflows Could Reach $8.8B According to Reuters, MSCI will remove Strategy (MSTR), Japan's Bitcoin treasury firm Metaplanet, and UK-based uranium investment company Yellow Cake from its global indexes, effective…”

https://x.com/WuBlockchain/status/2120662777895514401?ref_src=twsrc%5Etfw

MSCI proposed last year removing digital-asset treasury companies whose cryptocurrency holdings account for more than 50% of their total assets. The measure forms part of a broader review of what MSCI describes as non-operating companies. The 50% threshold draws the proposed line between operating businesses and investment-fund-like vehicles, meaning the review targets the digital-asset treasury model as a category rather than a single company.

Metaplanet (TYO:3350), described as the second-largest corporate Bitcoin holder, is also scheduled for removal. Strategy previously warned that exclusion from an MSCI index could force the sale of $2.8 billion of its stock. The company has financed most of its Bitcoin purchases through debt and new share issuance, and sold some Bitcoin earlier this year to meet debt payments.

Analysts Assess Bitcoin’s Weakness

Analyst Ted Pillows said on X that Bitcoin is moving toward its sixth consecutive red weekly candle. He noted that stocks had shown some momentum after the previous week’s crash, but the recovery had not extended to the cryptocurrency market. Pillows said Bitcoin and altcoins would remain weak until BTC reclaimed its 50-week moving average.

“$BTC is now heading towards its 6th consecutive weekly red candle. Stocks are showing some momentum after last week's crash, but it's not impacting the crypto market. Until Bitcoin reclaims the 50W MA, the weakness will continue in BTC and alts.”

https://x.com/TedPillows/status/2120457757912387628?ref_src=twsrc%5Etfw

On-chain analyst Willy Woo offered a different view in a short X post, writing: “Fear during an early bull market is a gift, just saying.” He did not provide a price target or time frame.

https://x.com/willywoo/status/2120740509098672491?ref_src=twsrc%5Etfw

Derivatives data pointed to a calmer market. Coinglass reported $51 million in Bitcoin liquidations, including approximately $8 million in long positions and $43 million in short positions. Across the broader cryptocurrency market, liquidations totaled $199 million, with short positions accounting for more than $131 million.

Bitcoin ETF Outflows Exceed $1 Billion in 2026

U.S. spot Bitcoin ETFs recorded $95 million in net outflows on Nov. 10, marking their fourth consecutive day of losses. Year-to-date redemptions have now exceeded $1 billion, according to data tracked by Bitcoin.com News.

Martin Lee, market insights lead at DWF Labs, questioned the usefulness of ETF flows as a market signal. He said withdrawals have often accelerated near market bottoms, while inflows have increased near market peaks. Based on his internal analysis, ETF flows follow Bitcoin’s price rather than lead it.

Lee identified two sources of liquidity for Bitcoin: the dollar-debasement trade and broader risk-on buying. He said Bitcoin held up in August on the debasement narrative while risk-on artificial-intelligence stocks fell sharply. However, he added that debasement alone rarely sustains a rally when the broader market is risk-off.

Lee also noted that Bitcoin has outperformed gold over the past six months. His full comment was that ETF flows “haven’t been good indicators of what we can expect price to do next.”

Other major cryptocurrencies traded in a narrow range Thursday. Ether fell 0.3% to $2,048.96, while XRP declined 1.4%. Solana rose 0.3%, and Cardano and BNB each lost 0.5%.

Among memecoins, Dogecoin fell 1% and $TRUMP declined 0.7%. Cryptocurrency markets have struggled to recover after sharp declines through October and early November. Concerns also remain after Democrats won the U.S. midterm elections, a result some traders associate with increased congressional attention on cryptocurrency. The next scheduled reference points for traders are the potential December Federal Reserve rate increase and the implementation of MSCI’s index review changes.

Original report: https://coincentral.com/bitcoin-btc-price-slips-below-74000-as-msci-drops-strategy-and-fed-hike-bets-build/