Citi Slashes Bitcoin Price Target to $82,000 Amid Reduced ETF Inflows

Citi has revised its Bitcoin price target down to $82,000 from $143,000 due to reduced ETF inflow assumptions. The bank cut its 12-month net ETF inflow assumption from $10 billion to zero, directly impacting the price prediction. According to Citi's model, every $1 billion of net ETF inflows is worth approximately $6,100 of Bitcoin price.

Bitcoin currently trades near $64,020, down about 46.6% over twelve months. The cryptocurrency has been struggling with outflows from US spot Bitcoin ETFs, which posted their worst month on record in June with roughly $4.5 billion of net outflows.

The bull case now requires a buyer that a major bank has formally deleted from its model. The 200-day moving average at $65,192 is the bull/bear line, and Bitcoin sits below it. A clean break above $63,800 would suggest the immediate downtrend is over.