Citi Lowers Bitcoin and Ethereum Price Targets Amid Negative ETF FlowsCiti has slashed its 12-month price targets for the top two crypto assets, Bitcoin and Ethereum.
The cuts reflect negative ETF flows and stalled U.S. crypto legislation, reports Reuters.
Bitcoin’s target dropped to $82,000 from $112,000.
Ether’s forecast was trimmed to $2,240 from $3,175.
Bitcoin ETF flows are down about $3.3 billion so far this year, and the brokerage has now lowered expected ETF inflows to zero from $10 billion over the next year.
Citigroup also cites potential selling by treasury companies and a rotation into AI-related assets as headwinds for the crypto market.
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Citi has slashed its 12-month price targets for the top two crypto assets, Bitcoin and Ethereum.
The cuts reflect negative ETF flows and stalled U.S. crypto legislation, reports Reuters.
Bitcoin’s target dropped to $82,000 from $112,000.
Ether’s forecast was trimmed to $2,240 from $3,175.
Bitcoin ETF flows are down about $3.3 billion so far this year, and the brokerage has now lowered expected ETF inflows to zero from $10 billion over the next year.
Citigroup also cites potential selling by treasury companies and a rotation into AI-related assets as headwinds for the crypto market.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post appeared first on The Daily Hodl.
read the full story| More from The Daily Hodl |
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