Recently, US stock futures have been oscillating back and forth between 6900 and 6978, and the story behind it is quite interesting. The key factor is a decision by MSCI — the index provider decided to retain the inclusion of listed companies holding Bitcoin within its system.

This seemingly calm move actually hints at a lot. Why haven't the listed companies that made large Bitcoin purchases been "kicked out" by institutional investors? What does this imply? It indicates that Bitcoin, once considered "non-mainstream," is gradually gaining recognition in the traditional financial circle. The reason these companies dare to allocate to crypto assets is rooted in this rising institutional acceptance.

However, a few realities need to be clarified:

First, MSCI's decision to "not change" the inclusion status only preserves eligibility; it does not mean increasing the allocation weight or actively boosting these stocks. Don't mistake a "no denial" for a "strong endorsement."

Second, futures prices and spot prices are entirely separate systems. The fluctuations of US stock futures between 6900 and 6978 could at any moment evolve into a deep correction, and the crypto market could also experience volatility. The chain reaction in financial markets can sometimes be unpredictable.

Third, the Federal Reserve has not yet made a final decision. The trajectory of the interest rate hike cycle remains uncertain. As long as this sword is still hanging in the air, all asset prices are subject to change.

In summary: stock futures are oscillating at high levels, and BTC-related stocks have indeed received a "confirmation signal" from MSCI. But this signal is far from as optimistic as some hype it up to be, so be cautious when chasing the rally.