Citi Slashes Bitcoin Price Target to $82K Amidst ETF Outflows and Shifting Investor Demand
Citigroup just slashed its 12-month Bitcoin price target to $82,000, down from $112,000, citing a sharp reversal in ETF flows. The bank now expects zero net inflows, a massive shift from its prior $10 billion projection, as ETFs have shed billions. This downgrade signals a defensive turn for crypto, with Citi warning of potential further downside.
Citigroup is hitting the brakes on Bitcoin, slashing its 12-month price target to $82,000 from $112,000. This isn't the first trim; they've already cut from $143,000. The big story? ETF money is fleeing. Citi now forecasts zero net inflows, a stark contrast to the $10 billion they previously expected. Bitcoin ETFs have bled billions, with June alone seeing a record $4 billion exit. Analysts point to softer demand, these outflows, and a stalled regulatory landscape in Washington. They're also flagging a risk: digital asset treasury companies might start selling their holdings. The market's attention has also shifted to AI plays, pushing crypto into a defensive posture. Citi's bear case, factoring in a recession and continued ETF withdrawals, sees BTC hitting $53,000.