Bitcoin earns base case target of $143,000 at Citigroup

Citigroup analysts have set a base case 12-month target for Bitcoin at $143,000, representing about 62% upside from current levels around $88,000. This forecast is primarily driven by anticipated revived demand from spot Bitcoin ETFs and positive forecasts for traditional equity markets. The analysts also cite potential U.S. digital-asset legislation, such as the passage of the Clarity Act, as a catalyst for further adoption and fund flows. Citi projects Bitcoin will range between $80,000 and $90,000 into the new year, with $70,000 serving as key support. The bank also provided a bear case target of $78,500, contingent on a global recession, and a bull case target of $189,000 based on increased end-investor demand.

(Source：CoinDesk)