Summary
- Citigroup said it cut its 12-month price target for Bitcoin to $82,000 from $112,000 and for Ether to $2,240 from $3,175.
- Citi said weaker investor demand, ETF outflows, delays in U.S. digital-asset legislation and high volatility were behind the revised outlook.
- Citi said that in a bearish scenario, Bitcoin could fall to $53,000 and Ether to $1,094, while investor adoption is likely to remain stalled until a new catalyst emerges.
Forecast Trend Report by Period
Citigroup has sharply cut its 12-month price targets for Bitcoin and Ether.
Reuters reported on July 30 that Citi lowered its 12-month Bitcoin target to $82,000 from $112,000 in a report released that day. It also cut its 12-month Ether target to $2,240 from $3,175.
The bank cited weaker investor demand, exchange-traded fund outflows and delays in U.S. digital-asset legislation as the main reasons for the downgrade. Citi said the crypto market has remained weak this year amid high volatility and persistent ETF outflows.
Bitcoin fell into the $58,000 range on July 30, hitting its lowest level since September 2024. That left the token down nearly half from its record high in October last year. Ether also slid to the $1,500 level, its lowest price since April 2025.
In its bearish scenario, Citi said Bitcoin could drop to $53,000 over the next 12 months. Under that scenario, Ether could fall to $1,094. The bearish case assumes a recessionary macroeconomic backdrop and continued ETF outflows.
"ETFs, a key driver of Bitcoin prices, have seen net outflows of $3.3 billion so far this year," Citi said. The bank added that bearish sentiment has pushed both Bitcoin and Ether below their long-term moving averages. Broad investor adoption is likely to remain stalled until a new catalyst emerges.
Citi also said concerns that digital-asset treasury companies such as Strategy could sell Bitcoin are weighing on sentiment. The bank added that the recent weakness in the crypto market has coincided with capital shifting into the artificial intelligence industry.
