Citi's Revised Crypto Forecast: Bitcoin and Ether Targets Cut

Citi has reduced its 12-month forecasts for bitcoin and ether due to decreased ETF flows and the unlikely emergence of a legislative catalyst in the U.S. The brokerage has adjusted its bitcoin target to $82,000 from $112,000, and its ether forecast to $2,240 from $3,175.

Citi has revised its 12-month forecasts for bitcoin and ether, attributing the changes to a noticeable decline in ETF flows and diminishing chances of a legislative spark in the United States.

On Tuesday, the brokerage issued a note detailing its revised projections. Citi lowered its bitcoin target to $82,000, a decrease from its previous forecast of $112,000.

Similarly, the bank's outlook for ether has been adjusted to $2,240, down from $3,175, indicating a recalibration amid evolving market dynamics.