Citi Lowers BTC and ETH Price Targets: Bitcoin Target Price $82,000, Ethereum Target Price $2,240

BlockBeats News, July 1st, Citigroup has lowered its 12-month price target for Bitcoin and Ethereum, reducing Bitcoin's target price from $112,000 to $82,000 and Ethereum's price target from $3,175 to $2,240.

Citigroup stated that waning investor interest, reduced ETF inflows, and a lack of progress in U.S. digital asset legislation have all dampened the outlook for cryptocurrencies. This adjustment was made as Citigroup decided to lower its ETF net inflow assumption for the next 12 months from $10 billion to zero. Citigroup also noted that slow progress on U.S. cryptocurrency legislation and concerns about digital asset management firms potentially selling Bitcoin have hurt investor sentiment, with this weakness coinciding with a shift in funds towards AI-related assets.