Citi Slashes Price Targets for Bitcoin and Ethereum Amid Waning Investor Interest

Citi has significantly scaled back its bullish outlook on Bitcoin and Ethereum, reducing their 12-month price targets. The bank's analyst team cited waning investor interest, negative fund flows from exchange-traded funds (ETFs), and a lack of progress on U.S. digital asset legislation as factors contributing to this decision.

The revised forecasts are as follows: Citi has lowered its Bitcoin price target from $112,000 to $82,000 and cut its Ethereum forecast from $3,175 to $2,240. This move comes after Bitcoin fell below $60,000, marking its weakest level since September 2024.

According to Citi's bear-case scenario, which assumes a mild macroeconomic recession coupled with sustained outflows from crypto ETFs, the bank projects Bitcoin at $53,000 and Ethereum at $1,094 over the next 12 months. The firm attributed this forecast revision to its decision to lower its 12-month assumption for net ETF inflows from $10 billion down to near-zero.