Citigroup Boosts Bitcoin Price Forecast to $112K Amid Regulatory Uncertainty

Citigroup's latest price forecast for Bitcoin has been revised upwards to $112,000, reflecting the bank's cautious optimism amidst regulatory uncertainty.

The forecast takes into account the slow progress on US cryptocurrency legislation, which is affecting institutional adoption. Investment firms and hedge funds are hesitant to increase exposure without clear regulatory guidance.

Despite this, institutional demand remains strong, and Bitcoin has been steadily climbing over the past week, with its price now sitting around $74,000. This marks a 6.5% increase over the last seven days, showing renewed momentum after several months of sideways movement.