Citi Trims Crypto Price Targets Amid Weaker ETF Demand

Citi has revised its Bitcoin and Ethereum price targets downward in response to weaker ETF demand and slower U.S. crypto legislation.

The bank's 12-month Bitcoin target is now $82,000, down from a previous estimate of $112,000, while its Ether forecast has been reduced to $2,240 from $3,175.

Citi attributed the changes to negative ETF flows and slower U.S. crypto legislation, which has created uncertainty in the market.

The bank noted that Bitcoin ETF flows have fallen to around $3.3 billion for this year, down from an initial expectation of $10 billion in net inflows over the next 12 months.