Citi Lowers Bitcoin and Ethereum Price Expectations Amid Continuous Net Outflows from Spot ETFs

CoinFeed July 1 news, according to Reuters, Citi sharply lowered its 12-month price forecasts for Bitcoin and Ethereum, reducing the Bitcoin target from $112,000 to $82,000, and Ethereum from $3,175 to $2,240. Citi stated that weakened investor risk appetite, continuous ETF net outflows, and slow progress in U.S. crypto legislation have jointly weakened the market outlook. Citi lowered its 12-month expected net inflow for ETFs from $10 billion to zero, with Bitcoin ETFs seeing a net outflow of approximately $3.3 billion year-to-date. In Citi's pessimistic scenario, the Bitcoin target price is $53,000 and Ethereum is $1,094.