QCP: BTC's decline is due to weakening Asian macroeconomic conditions and panic triggered by Strategy comments.

QCP Capital Analysis states that Bitcoin's sharp drop from $91,000 to $86,000 is mainly due to two points: the surge in expectations for a Bank of Japan interest rate hike and the weakening of China's non-manufacturing PMI, which has dragged down Asian macro sentiment; the CEO of Strategy mentioned the possibility of selling BTC when stock prices fall below NAV and financing dries up, amplifying market panic. Although QT has ended, the probability of a rate cut in December has risen to 87%, and ETF inflows have resumed, it is normal for BTC to experience a pullback after a prior rebound of 15%, and the key is whether it can hold above the previous low.