Bitcoin (BTC) price nears pre-election floor as ETF flows stall, Citi says
Bitcoin is trading near its pre-election price floor as ETF inflows slow and market sentiment weakens, according to Citi.Summary
According to a report from Wall Street bank Citi, Bitcoin (BTC) is approaching a critical inflection point, trading near its pre-election price floor of roughly $70,000 after falling below the average entry price for U.S. spot bitcoin ETFs ($81,600).
The slowdown is attributed to materially reduced inflows into ETFs, a key source of demand, and ongoing long liquidations in futures markets. Citi noted that Bitcoin is currently mirroring the volatility of precious metals without the upside, suggesting it remains highly sensitive to liquidity conditions and risk sentiment rather than acting as a safe-haven asset amid geopolitical uncertainty.
Key potential catalysts, such as progress on U.S. digital asset regulation, have been slow, further dampening sentiment. While Citi sees rising concerns over macro risks like the shrinking Federal Reserve balance sheet, they consider a prolonged crypto winter a tail risk, emphasizing that the current price levels near $70,000 could be decisive for the near-term market direction.
(Source：CoinDesk)