[QCP: Bitcoin Stabilizes Briefly but Pressure is Building, 80–82k Becomes Key Support] Odaily Planet Daily News – QCP Asia stated in its latest market memo that Bitcoin is currently holding in the high $80,000 range, driven by improved risk sentiment and the market raising the probability of a December rate cut to 85%. However, macro signals remain mixed: inflation stays elevated, employment data weakens, and key data such as initial jobless claims and ADP are expected this week. QCP pointed out that AI-related credit indicators are weakening, CDS spreads are widening, and concerns are growing over NVIDIA's rising accounts receivable and inventory levels. Crypto fund flows are similarly bearish, with ETFs continuing to see net outflows and most products trading below 1 mNAV. Strategy has come under renewed market attention due to Bitcoin holdings nearing cost price and the company’s stock being placed on MSCI’s watchlist. Looking ahead to the end of the year, BTC positions exhibit a structure of "heavy downside hedging and limited upside buying": there is significant resistance near the mid-$90,000 range, while the $80–82k range serves as key support. QCP raises the question of whether the current brief stability can be maintained or if a new trend is brewing.