Citi slashes Bitcoin target to $82,000 and Ether to $2,240 on ETF outflows

Citi cut its 12-month Bitcoin price target to $82,000 from $112,000 and lowered its Ether forecast to $2,240 from $3,175, citing negative ETF flows and stalled US crypto legislation.

The revised targets reflect a sharp reassessment by the Wall Street bank, which reduced assumed net spot ETF inflows to zero in its model, according to a report published July 6 and covered by Reuters. Bitcoin ETF flows have declined approximately $3 billion, a reversal from the strong inflows that had supported prices earlier in the year.

Ether traded near $1,731 at the time of the report, after recovering 13% from the $1,500 support zone. The question for traders is whether $1,700 holds as a floor or gives way to further downside, with Citi's new target of $2,240 implying roughly 29% upside from current levels — a narrower margin than the previous forecast of $3,175.

The downgrade by a major Wall Street institution risks compounding bearish pressure across crypto markets. Bitcoin and Ether holders now face two opposing forces: the institutional de-risking behind Citi's revised outlook, and the technical support levels that have so far held. If other banks follow with their own forecast revisions, selling pressure could intensify as traders react to diminished institutional conviction.

Citi's move also shows the growing influence of ETF flows on crypto price discovery. With spot Bitcoin ETFs now a primary channel for institutional exposure, sustained outflows — or even their absence — can directly shape Wall Street's price expectations for the asset class. The stalled progress on US crypto legislation removes another potential trigger that could have drawn fresh capital into the market.

This article is for informational purposes only and does not constitute investment advice.