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

• 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$91,227.36 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$3,157.11 is down 3.6%, showing no boost from Wall Street giant Morgan Stanley's move to offer a spot ETH ETF.

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.

• KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
• This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
• Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
• Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
• Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.

• BNB fell below $900 amid a broader market decline, even after recent technical upgrades and ecosystem developments on the BNB Chain.
• The BNB Chain's layer-2 network, opBNB, recently completed a major upgrade, the Fourier hard fork, which doubled transaction throughput and cut block times in half.
• To regain bullish momentum, BNB needs to break out of its current downtrend and reclaim resistance levels near $906, otherwise it may face further pressure toward $892.

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