Deutsche Bank: 5 Key Reasons for Bitcoin's Price Drop - Market Risk-off Sentiment and Fed Hawkish Signal

BlockBeats News, November 24th, Bitcoin just experienced its worst week since February, plunging over 30% from last month's peak. Deutsche Bank analysts pointed out five key factors:

· Market Risk-off Sentiment - Bitcoin's trend mimics that of high-growth tech stocks (highly correlated with the Nasdaq 100 Index), rather than being an independent "store of value" asset

· Fed Hawkish Signals - Powell warns that a December rate cut is not set in stone (although New York Fed's Williams subsequently released dovish comments)

· Crypto Legislation Process Stalled - Progress on the Senate's "Digital Asset Market Clarity Act" has slowed down

· Institutional Funds Continuously Flowing Out - Large investors are withdrawing funds

· Long-term Holders Taking Profits - Early hodlers are cashing out gains