Citi has lowered its 12-month rates for two of the top cryptocurrencies, Bitcoin and Ethereum.
The cut reflects the negative movement of ETFs and the suspension of US crypto regulations, reports Reuters.
Bitcoin’s target has dropped to $82,000 from $112,000.
The forecast for Ether was reduced to $2,240 from $3,175.
Bitcoin ETF flows have fallen by about $3.3 billion so far this year, and lending has now reduced the ETF’s expected net worth to zero from $10 billion next year.
Citigroup also cites potential acquisitions by financial firms and flexibility to AI-related products as a storm in the crypto market.
Follow us X, Facebook and Telegram
Don’t Miss Out – Sign up to receive email notifications straight to your inbox
Swimming Daily Hodl Mix
 
Disclaimer: The views expressed in Daily Hodl are not financial advice. Investors should do their due diligence before making any risky investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any assets including cryptocurrencies, nor is The Daily Hodl a financial advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image Created: Midjourney
