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Bitcoin's trading around $86,000. The 'Tinkerbell' effect is haunting crypto, says Deutsche Bank
One major problem for beleaguered bitcoin right now: investor belief is crucial for continued gains, and right now the faithful are wavering. That's according to Deutsche Bank strategists who say bitcoin's "portfolio integration is being tested," a move that could be temporary or drag on longer. And the sentiment-driven selling they've been seeing has put their so-called "Tinkerbell effect" theory from 2021 back in the spotlight, that is, that bitcoin valuations rise and fall based on what investors think it's worth. The price of bitcoin (BTCUSD), which just suffered its worst weekly loss since late February, edged ... (full story)
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