Citi Lowers Bitcoin and Ethereum Price Targets Amid Legislative Delays

Citi has made significant revisions to its price targets for two major cryptocurrencies, citing slower-than-expected progress in US legislation. The bank now estimates that Bitcoin will reach $112,000 within the next 12 months, down from a previous forecast of $143,000.

The reduced estimate is attributed to decreased potential flows and slowing network activity, as well as diminishing odds of key legislation passing this year. Citi's analyst, Alex Saunders, notes that the probability of the Clarity Act being enacted has fallen to around 60%.