Deutsche Bank Cites Five Drivers Behind Bitcoin's 31% Drop from Peak

Bitcoin traded at $85,933, down 31% from its all-time high of $126,272 on October 6. Deutsche Bank strategists Marion Laboure and Camila Siazon identified five factors driving the decline, with weakening investor conviction as the primary catalyst. The analysts invoked their "Tinkerbell effect" framework, arguing that Bitcoin's valuation depends heavily on collective sentiment.