Bitcoin’s Risk Regime: Why Crypto Trades Like High-Beta Tech When Markets Stress

Research now shows crypto and stocks move together in turmoil. Here’s how Bitcoin’s shocks spill into equities via tech names, derivatives, and portfolios—and what that means for risk.

MSCI’s Bitcoin Treasury Screen Faces a Bigger Problem: Accounting Asymmetry

Strive warns MSCI that screening “Bitcoin treasury” firms could misfire globally due to inconsistent accounting rules. The real risk is distorted classifications, not corporate BTC use.

The Daily: JPMorgan says Strategy is key to bitcoin’s next move, IMF warns stablecoins may weaken central bank control, and more

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons. ]]>

Sovereign Buyers Absorb the Dip as CFTC Greenlights U.S. Spot Crypto Trading

Bitcoin slid 2% to $91.4K, but sovereign wealth funds kept buying. Inside the CFTC’s spot approval, ETF outflows mechanics, and new rails from Solana–Base to bank-led stablecoin pilots.

Indiana Bill Seeks Bitcoin ETF Options in Public Pensions and Statewide Protections for Crypto Use

Indiana’s HB 2014 would require public retirement plans to offer crypto-exposure ETFs and limit local curbs on payments, mining, and self-custody—while enabling state pilot programs.

Bitcoin Slips Under $90K as $500M in Longs Unwind; Ethereum, XRP Fall While Stocks Climb

Bitcoin dips below $90,000 as crypto long liquidations top $500M. Ethereum hovers near $3,000, XRP falls, and crypto equities sink—even as the S&P 500 trades near record highs.

Cantor Cuts Strategy (MSTR) Target 59% But Flags MSCI Risk Over Forced Bitcoin Sales

Cantor trims Strategy’s 12-month target to $229 from $560, keeps Overweight. Analysts see MSCI index removal as the only “somewhat warranted” fear—not a forced BTC selloff.

Bitcoin Spot ETFs Log $194.6M in Outflows as Basis Trades Unwind; BlackRock’s IBIT Leads With $113M

Spot Bitcoin ETFs saw $194.6M in outflows Dec. 5—the highest in two weeks—with IBIT shedding $113M as leveraged basis trades unwind ahead of potential BOJ tightening.

ETH Options Skew Eases vs. BTC as Traders Price Less Downside; Catalysts Build but ETFs Lag

Options markets show softer downside for ETH than BTC, with 90‑day skew near -2.8%/-1.7% vs -4% for BTC. Fusaka, rate-cut odds, and treasury buys help—ETF inflows remain the missing spark.

Banks Quietly Move Onto Stablecoin Rails as XRP ETFs Near $1B and CFTC Clears U.S. Spot Crypto

Markets edge higher while the real action shifts to stablecoin infrastructure: banks pilot with Coinbase, BlackRock stays risk-on, Soneium picks USDSC, and XRP ETFs approach $1B.