Citi cuts bitcoin, ether forecasts as ETF flows turn negative
July 23, 2026
Summary
- Citi cuts 12-mth bitcoin target to $82,000 from $112,000
- Brokerage cuts 12-mth ether target to $2,240 from $3,175
- Citi lowers expected ETF inflows to zero from $10 bln over the next 12 months
- Stalled U.S. crypto legislation clouds outlook – Citi
Citigroup slashed its 12-month forecasts for bitcoin and ether, saying weakening investor appetite, negative exchange-traded fund flows and a lack of progress on U.S. digital asset legislation have hurt the outlook for the two largest cryptocurrencies.
The brokerage, in a note dated Tuesday, lowered its target for bitcoin to $82,000 from $112,000 and trimmed its ether forecast to $2,240 from $3,175.
Bitcoin was last trading at $58,864.27, its weakest level since September 2024, having halved in value from an all-time high of $126,223.18 in October last year. Ether was last at $1,585.63, its lowest since April 2025.
Crypto markets have struggled this year amid heightened market volatility, investor hype around big expected IPOs and persistent ETF outflows that track the assets.
Both cryptocurrencies are trading below their long-term moving-day averages, reflecting bearish sentiment. Citi’s bear-case scenario, which assumes recessionary macroeconomic conditions and continued ETF outflows, values bitcoin at $53,000 and ether at $1,094 over the next year.
Bitcoin was last trading at $58,864.27, its weakest level since September 2024, having halved in value from an all-time high of $126,223.18 in October last year. Ether was last at $1,585.63, its lowest since April 2025.
Bitcoin, ether lose ground over past year
Bitcoin and ether have erased much of last year’s gains as weak ETF demand, fading investor interest and concerns over crypto-related corporate buying weigh on prices.
Reporting by Rashika Singh in Bengaluru; Editing by Sonia Cheema