Citi has slashed its 12-month price targets for the top two crypto assets, Bitcoin and Ethereum.
The cuts reflect negative ETF flows and stalled U.S. crypto legislation, reports Reuters.
Bitcoin’s target dropped to $82,000 from $112,000.
Ether’s forecast was trimmed to $2,240 from $3,175.
Bitcoin ETF flows are down about $3.3 billion so far this year, and the brokerage has now lowered expected ETF inflows to zero from $10 billion over the next year.
Citigroup also cites potential selling by treasury companies and a rotation into AI-related assets as headwinds for the crypto market.
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