Bitcoin

This event underscores the fragility of emerging-market equities amid global monetary tightening and capital flight. Crypto markets, historically uncorrelated but sensitive to liquidity shocks, may see short-term downward pressure as institutional investors reduce risk exposure across all asset classes. However, if Indonesia's outflows materialize, some capital could rotate into crypto as a store of value outside traditional financial systems.

MSCI Inc. is set to decide on a possible downgrade of Indonesia's equity market, risking $13 billion in outflows.