Citicorp has lowered the price target for bitcoin and the Taifeng for the next 12 months, and has simultaneously reduced the judgement of US encrypted ETF funds. According to the Bank, the weak financial front and the slow pace of policy progress are stifling encrypted market sentiment.
Synchronization Down Target Prices
Citicorp reduced the target price of bitcoin from $112,000 to $82,000, and from $3175 to $2240, using the target price of the hotel. Following this adjustment, the bank shifted to a more cautious performance of encrypted assets over the coming year.
- Bitcoin target price dropped to $82,000.
- The target price for the Taifu has dropped to $2240.
ETF Net inflows expected to be zero
In addition to the price projections, Citicorp is expected to lower the net inflows of United States encrypted ETF from $10 billion to zero in the coming year. It is mentioned that financial outflows of products continue and that new demand has not yet been clearly supported.
Legislative progress and sales pressure are being addressed
Citi also noted that the slow advance of encryption legislation in the United States had weakened market expectations for improvements in the industry environment. At the same time, an increase in the sale of bitcoin by Digital Asset Banks could further increase spot market pressure.
Next, the market will continue to observe whether ETF demand has recovered and whether United States regulatory and legislative progress has improved risk preferences. These two factors continue to be the main variables influencing the mood for encrypted assets.