Happy Friday!

Bitcoin keeps trading on life support, but bulls cling to the fact that $60,000 still holds for now. Here’s why one analyst says that is ‘very telling’.

Strategy and Metaplanet are facing some potential bad news soon: the MSCI could soon exclude them from the index — here’s why.

Plus, learn how to use options-based income strategies to capture market upside and generate consistent monthly distributions. Join Jay Hatfield, CEO of Infrastructure Capital Advisors and Benzinga on Thursday, September 10. Register For Free

TOP STORY

Bitcoin Holding Above $60,000 Is 'Very Telling', Analyst Says

Bitcoin is down sharply from its highs, but macro analyst Joe Consorti says the real story is what hasn’t happened: BTC still refuses to break below key levels despite tight policy, geopolitical stress, custody concerns and even quantum-computing fears.

Consorti says holding above $60,000 is “very telling,” especially compared with past crypto cycles that saw 70% to 90% drawdowns, and he argues long-term money printing could eventually push Bitcoin to $1 million before 2036.

For now, he sees BTC in a broader bottoming zone — and warns waiting for a perfect $40,000 to $50,000 entry could mean missing the trade.

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MARKET MINUTES

Michael Burry said shorting some AI stocks is like ‘shooting fish n a barrel.’ He is down since making this statement but remains undeterred and has doubled down.

XRP whales continue to accumulate the altcoin even though XRP is barely holding on to the psychological $1 level. What’s giving them confidence?

Gavin Newsom has lost the top position as favorite to win the nomination for the Democrats in 2028. Who is the new frontrunner?

FINTECH FOCUS

Strategy, Metaplanet Face MSCI Exclusion Again: Will History Repeat?

Strategy and Metaplanet could be facing a fresh index risk after MSCI opened a new consultation that may exclude companies whose balance sheets look more like asset-holding vehicles than operating businesses.

The proposal is not explicitly aimed at crypto, but simulated May data shows Strategy, Metaplanet and uranium holder Yellow Cake failing the screen, while SharpLink Gaming lands on the watchlist.

For Bitcoin treasury names, the stakes are real: index removal could pressure passive ownership, and Strategy alone holds 840,447 BTC worth roughly $53 billion.

BENZINGA TRIVIA CHALLENGE

It’s Friday, which means today is your final opportunity to boost your score with today's quiz, and you can still catch up on any quizzes you missed this week.

Compete for awesome prizes, including Benzinga PRO (a $500 value) and Benzinga EDGE subscriptions. Put your market knowledge to the test with today's 30-second trivia challenge.

Missed yesterday's quiz? Catch up here. The more daily quizzes you complete, the better your chances of landing a top spot. Remember, it only takes one great score to win.

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