Citi slashes 12-month bitcoin, ether targets as ETF flows dry up
CoinDesk 2026-07-01 13:39:19
Context: Citi, a major financial institution, has reduced its 12-month price targets for bitcoin and ether due to a decline in investor demand and stalled U.S. crypto legislation. The bank's decision to slash its targets comes after it abandoned its forecasts for inflows into exchange-traded funds (ETFs). This move reflects a shift in Citi's outlook on the cryptocurrency market.
Key Facts
- Citi cut its 12-month bitcoin and ether price targets, although the bank did not specify the new target prices, following the scrapping of its ETF inflow forecasts.
- The decision to slash the targets was attributed to stalled U.S. crypto legislation and weak investor demand, indicating a challenging environment for cryptocurrency investments.
- The bank's revised outlook is a response to changing market conditions, specifically the drying up of ETF flows, which had previously been anticipated to drive growth in the cryptocurrency market.