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Citi Slashes BTC, ETH Targets as ETF Bid Evaporates
- On Tuesday, Citigroup slashed its 12-month price targets for Bitcoin to $82,000 and Ether to $2,240, citing stalled United States digital asset legislation and weakening investor demand.
- Citi analyst Alex Saunders noted that "ETF flows, an important driver of prices, have turned negative recently," as investors withdrew a record $4 billion from crypto ETFs in June.
- Bitcoin and Ether currently trade below their key 200-day moving averages while speculative capital has shifted toward AI-related investments, with Bitcoin ETF flows down about $3.3 billion this year.
- Citi now assumes zero net ETF inflows over the next year, abandoning earlier expectations that regulatory progress would drive institutional allocations into digital assets.
- Within the next year, Citi's pessimistic scenario projects Bitcoin at $53,000 and Ether at $1,094 amid recessionary macro conditions and continued ETF withdrawals.
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27 Articles
Citi cuts bitcoin, ether forecasts as ETF flows turn negative
·New York, United States
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Coverage Details
Total News Sources27
Leaning Left0Leaning Right3Center3Last UpdatedBias Distribution50% Center, 50% Right
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
50% Right
C 50%
R 50%
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