1. BTC recovering modestly after sharp drop
After falling to around $80,554 (its 7-month low) last week, Bitcoin is now trading in the vicinity of $87,000-$88,000.
2. Weak investor sentiment & “Tinkerbell effect”
Analysts at Deutsche Bank say Bitcoin’s current decline is harder to bounce back from than previous ones because:
It involves strong institutional participation, not just retail.
It’s driven by belief/sentiment (i.e., if people stop believing in it, the value suffers) — their term: the “Tinkerbell effect.”
