Deutsche Bank cites macro, structural pressures for BTC drop below $60K

Germany's largest bank, Deutsche Bank, has attributed Bitcoin's recent drop below $60,000 to a combination of macroeconomic and structural pressures. The bank identified several key factors: - A hawkish outlook from the U.S. Federal Reserve - Record-high outflows from spot Bitcoin ETFs - A decline in confidence following MicroStrategy's (MSTR) first sale of Bitcoin since 2022 - A rotation of capital into the artificial intelligence (AI) sector According to CoinDesk, Deutsche Bank analyst Marion Laboure assessed that Bitcoin is not disappearing. Instead, Laboure noted, it is maturing into an institutional asset whose price is determined by fund flows, Fed expectations, competing risk factors, and legislative outcomes.