Citigroup has lowered its 12-month price forecasts for Bitcoin and Ether, saying weaker investor demand, slowing exchange-traded fund (ETF) inflows, and delayed U.S. crypto legislation have reduced the outlook for the two largest digital assets.
The bank cut its Bitcoin target to $82,000 from $112,000 and lowered its Ether forecast to $2,240 from $3,175.
The revision comes as both cryptocurrencies continue to struggle. Bitcoin recently traded near $58,900, its lowest level since September 2024, while Ether fell to around $1,586, a level last seen in April 2025. Both assets have also dropped below their long-term moving averages, a sign that selling pressure remains strong.
ETF flows and policy delays weigh on sentiment
Citi said one of the biggest reasons for the downgrade was its decision to reduce its 12-month forecast for net Bitcoin ETF inflows from $10 billion to zero.
According to the bank, Bitcoin ETFs have recorded about $3.3 billion in net outflows so far this year, removing one of the biggest sources of demand that supported prices during the previous rally. Citi also pointed to slow progress on U.S. crypto legislation and concerns that some corporate Bitcoin holders could sell part of their holdings as factors weighing on confidence.
In its bearish scenario, which assumes weaker economic conditions and continued ETF outflows, the bank said Bitcoin could fall to $53,000 over the next year, while Ether could decline to $1,094.
Why are large banks adjusting their forecasts?
Large banks rarely base their crypto forecasts on price charts alone. Instead, they adjust their outlook as new money enters or leaves the market. Last year, strong ETF inflows led many institutions to raise their targets as demand outpaced supply.
That picture has now changed. Instead of asking how high Bitcoin can climb, analysts are trying to measure how much buying power has disappeared. When ETF demand slows, lawmakers delay new crypto rules, and companies reduce risk, banks often lower their forecasts even before prices find a bottom.
Related: Spot Bitcoin ETFs Bleed $4.4 Billion Over Thirteen Days in Longest Outflow Run on Record
For investors, the revisions are less about predicting an exact price and more about showing how quickly market expectations can change when institutional demand weakens.
The recent prediction from Citi came as Bitcoin traded near the lower end of its recent range, suggesting investors were becoming more cautious amid weaker price momentum and growing market uncertainty. Rather than signalling renewed optimism, the movement points to a change in sentiment as traders adjusted their positions.
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