Bitcoin price news: BTC price target cut to $112,000 at Citigroup; ETH trimmed to $3,175

Citigroup has reduced its price targets for Bitcoin (BTC) to $112,000 and Ether (ETH) to $3,175, citing slower-than-expected ETF inflows, weak network activity, and the diminishing likelihood of favorable U.S. crypto regulation in the near term. The bank previously forecasted $143,000 for BTC and $4,304 for ETH. Analyst Alex Saunders noted that while ETF demand remains a key driver, the firm has lowered its demand assumptions. The crypto market has experienced a slowdown since Bitcoin’s peak in October, with prices impacted by risk aversion and reduced post-halving enthusiasm. The CLARITY Act, crucial for establishing clear regulatory frameworks, is stalled in the Senate, hindering institutional investment. Citigroup’s bull case anticipates $165,000 for Bitcoin and $4,488 for Ether with stronger adoption, while the bear case projects $58,000 for BTC and $1,198 for ETH under recessionary conditions.

(Source：CoinDesk)