The real reason why its all crashing - Digital asset treasuries (MSTR etc.) vote to be included in passive indexing or not (15th of jan)

DAT's like MSTR, BMNR and others have been one of 2 big buyers that propelled this cycle.
The DAT plan is simple, you need to be the biggest so that you get into the big indices and when you do, passive index trackers are forced to buy large amounts of your stock. As they do you get bigger and get added to more indices, and so the cycle perpetuates.

On EXACTLY 10th October, MSCI , the world's 2nd biggest Index company published that they are questioning whether companies that hold crypto assets as their core business, should be considered as "companies" or "funds".

If they are "funds" they are not included in passive indexing. why, because this creates a circular loop. The fund buys assets , gets bigger and then is included in more indices and buys more assets.

The expected ruling will be announced on 15 January 2026 and if this does pass, the companies like MSTR will be automatically removed from all indices. If this happens it would mean that all the pension funds, normal funds and all other passive index holders would dump their MSTR automatically. It would also mean that going forward they would never be included and as such , one of the big reasons why they actually exist would disappear.

Since DATs have been powering this cycle and have been most the buying pressure, the smart money saw this immediately after the 10TH of October announcement and positioned accordingly. The 10TH of October wasn't a coincidence after all - It was smart money seeing a big risk to crypto and the current market structure.

The market will probably continue to dump until around the end of December and if the announcement is negative, we will get a huge dump in preparation for the removal from the indices. On the other hand , if it is positive , the bull market is back!!

Credits go to Ran Neuner