Recent market turbulence has seen Bitcoin plummet from its $91,000 peak to a low of $86,000. This decline is attributed to shifts in Asia’s economic landscape and investor caution from institutions. 📈 A key driver of this decline is the Bank of Japan’s potential interest rate hike in December. This has resulted in swap markets anticipating a 76% chance of a rate rise on December 19th, causing yields to surge. In China, a shrinking services sector PMI indicates a slowdown in economic growth, adding to global uncertainty. 📉 Asian market dynamics are heavily influencing the cryptocurrency landscape. QCP’s analysis suggests that these shifts have caused skepticism about eased global liquidity conditions, leading investors to sell off Bitcoin. This further reinforces the intricate balance of power within the crypto markets.