Citicorps adjusted the price expectations for bitcoin and Taifung for the next 12 months, on the grounds that US demand for live-in encryption ETFs had been significantly cooled, and that the policy that had been pinned on high expectations had not materialized. The Bank currently expects that the related ETFs in the coming year will not lead to net inflows, which is a clear shift from previous judgements relying on new institutional configurations.

The target price is clearly down.

Citicorp has revised the target price of the 12-month base scenario from $112,000 to $82,000, and from $3175 to $2240 at the hotel target price. At the time of the release of the report, Bitcoin had reported $5.84 million and the Taifaf $1570.

The bank analyst stated that, in the absence of new investment catalysts, the financial flow for the next 12 months was expected to be reduced to zero. Citi had previously anticipated that further legislation on the structure of the digital asset market in the United States might have led to increased deployment of finance advisers and traditional investors, but the timetable was now considered to have been reversed.

ETF Weak financial flows

Citicorp believes that ETF financial flows remain the most important variable in the current price of encrypted assets. Such products have been an important source of institutional buyout since the United States spot bitcoin ETF was listed in 2024, but demand has declined significantly in recent months.

According to reports, United States spot bitcoin ETF recorded about $4 billion in net outflows in June, with the largest single-month outflow recorded. Prior to this, 13 transactions were redeemed in succession, which also led to the first negative return of accumulated financial flows during the year. Citi flag thus abandoned its earlier judgement of the need for a new ETF in the future.

  • Bitcoin target price: $112,000 down to $82,000
  • The target price for the workshop: US$ 3175 down to US$ 2240
  • Net EF inflows expected: down to zero

Fulfilling emotions and diversions.

In addition to the slowdown in ETF demand, Citi also mentioned that the slow pace of encryption legislation in the United States, the return of market risk preferences and the concern that Digital Asset Treasury might turn into a net seller were suppressing market performance. Recent company operations by Strategy, which are reported to be small in the sale of bitcoin, have magnified these concerns.

Citi also indicated that bitcoin and Ethervan were still below the critical technology position of 200-day average, while speculative funds were partly diverted to AI-related investments. Even though the Bank ' s equity strategy team ' s attitude towards US equity has improved, the macro-level support is still insufficient to offset the weak impact of the flow of encrypted market funds.

In the scenario scenario, Citico’s optimistic scenario is expected to rise to US$ 10.80 million and ETA to US$ 2932; the pessimism scenario, assuming a weak economy and continuous ETF outflows, could fall to US$ 53,000 and US$ 1094 at the same time.