Citi cuts 12-month bitcoin and ether targets as ETF demand weakens

Citigroup has cut its 12-month bitcoin target to $82,000 from $112,000 and lowered its ether target to $2,240 from $3,175. The revisions reflect weaker investor appetite, negative exchange-traded fund flows and limited progress on U.S. digital asset legislation.

The downgrade matters because ETF flows have become an important gauge of demand for major cryptocurrencies. Persistent outflows can remove a source of buying pressure that previously supported Citi’s outlook for bitcoin and ether.

Citi reduced its assumption for net spot crypto ETF inflows over the next 12 months to zero, down from an earlier forecast of $10 billion. The change represents a substantial reset of the demand expectations underpinning the bank’s targets.

The bank also outlined a more pessimistic scenario based on recessionary economic conditions and continued ETF outflows. Under that case, Citi projected bitcoin at $53,000 and ether at $1,094 over the 12-month horizon.

Price targets are forecasts rather than guarantees, but Citi’s revisions highlight the market’s sensitivity to institutional fund flows and U.S. policy developments. Renewed ETF demand or legislative progress could alter the outlook, while continued outflows would preserve the pressures identified by the bank.