#数字货币市场回调 After Thanksgiving, everyone remembers that wave of Bitcoin's sideways movement, right? At the beginning of December, it was hit hard. Analysts from QCP Capital in Singapore provided a few reasons, which seem quite reasonable.

The macroeconomic situation in Asia is indeed not very good. The governor of the Bank of Japan recently made hawkish remarks, causing the two-year government bond yield to surge to 1%. The market is now betting that the probability of an interest rate hike on December 19th is as high as 76%. Looking at China, the PMI data shows that non-manufacturing activity has contracted for the first time in three years, raising concerns among many about whether the regional economic growth will lag behind.

What's worse is that the CEO of Strategy came out and said they might have to sell coins due to financing difficulties, and this immediately panicked the market. Although liquidity is easing over in the U.S. and the funds for spot ETFs have turned into net inflows, the Bitcoin price is still following the macro narrative.

The key now is to see if $BTC can hold the previous low support level. To put it simply, we still need to see if the liquidity is sufficient and whether Strategy will actually conduct a large-scale sell-off. The market is currently waiting for these two signals.