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Crypto selloff accelerates, sending bitcoin back to $91,000

Author: Coindesk

Source: Coindesk

2026/01/07 23:46

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Crypto selloff accelerates, sending bitcoin back to $91,000

Strategy is an outperformer following MSCI's decision not to exclude the stock from its indices, but any positive reaction was muted by the decline in BTC.

By Helene Braun, James Van Straten|Edited by Stephen Alpher

Updated Jan 7, 2026, 3:51 p.m. Published Jan 7, 2026, 3:46 p.m.

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Crypto prices headed lower on Wednesday (Andriy Onufriyenko/Getty Images)

What to know:

Crypto markets extended overnight losses, with bitcoin now down 3% over the past 24 hours to just above $91,000.
The CoinDesk 20 Index dropped nearly 4%, led by an 8% decline in XRP, which had been one of the big gainers in early 2026.
Digital asset treasury stocks are seeing little boost from last night's MSCI decision not to exclude Strategy and other DATs from its indexes.

Bitcoin BTC$91,302.38 and most other digital assets headed lower in U.S. trading on Wednesday, extending overnight losses. At press time, bitcoin was down 3% over the past 24 hours at $91,100.

The CoinDesk 20 Index, which tracks the top 20 crypto assets, is trading nearly 4% lower over the same period, led by XRP, which is down over 8%. Ether ETH$3,162.52 is down 3.6%, showing no boost from Wall Street giant Morgan Stanley's move to offer a spot ETH ETF.

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The crypto selloff comes as the Nasdaq heads higher by 0.5%, but precious metals pull back from recent large gains, with gold down 1% and silver off 5%.

Digital asset treasury (DAT) stocks are also not receiving a significant boost from Tuesday evening's announcement from MSCI that it will not exclude Strategy (MSTR) from its indexes for now. While Strategy is an outperformer with a 1% gain, most of the rest of the sector is lower, with Bitmine Immersion (BMNR) down 6%, Sharplink Gaming (SBET) off 2% and XXI (XXI) lower by 5%.

On the weekly timeframe, the ratio of MSTR to the iShares Bitcoin Trust (IBIT) has bounced off the 3-level for a second consecutive week and is currently trading around 3.11. In March 2024, the ratio held 3 as support before rallying to a peak of 9.5 in November 2024, coinciding with MSTR reaching its all-time high. Bulls will be watching closely to see whether the 3-level continues to act as support.

(Source: CoinDesk)

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