[Bitcoin Pullback Due to Asian Macro Pressure and Escalating Market Panic] Singapore-based crypto investment firm QCP Capital analyzed that after Bitcoin traded sideways during Thanksgiving, it faced sell-offs at the start of December, primarily influenced by Asian macroeconomic pressures and escalating market panic. Hawkish comments from the Bank of Japan governor raised expectations of rate hikes, with the two-year government bond yield climbing to 1% and a 76% probability of a rate hike on December 19. China's PMI data showed non-manufacturing activity contracting for the first time in three years, sparking concerns over regional growth. Comments from Strategy's CEO about the company potentially selling Bitcoin due to a funding shortfall further intensified market panic. Although spot ETF fund flows turned net positive and U.S. liquidity eased, Bitcoin's price movement remains influenced by macro narratives. The key now lies in whether Bitcoin can hold its previous lows, which will depend on liquidity conditions and fund flows related to Strategy.