Citigroup has lowered its 12-month price target for Bitcoin (BTC) and Ether (ETH), citing slow legislative progress in the U.S., weakened network activity, and reduced expectations for ETF capital flows.
Currently, Citigroup forecasts Bitcoin to reach $112,000 and Ether to reach $3,175 over the next year. These levels represent significant reductions from previous forecasts of $143,000 and $4,304, respectively. Nevertheless, the target prices still indicate considerable upside potential for the two largest cryptocurrencies in the world. At the time of publication, BTC was trading around $74,000, while ETH was at $2,330.
The bank stated that capital inflows remain the most important price-driving factor. Even though ETF demand has shown slight signs of improvement recently despite geopolitical instability, Citigroup has lowered its assumptions about capital flowing into this investment channel over the next 12 months.
“ETF capital flows – with the assumption adjusted down to $10 billion for BTC and $2.5 billion for ETH – remain the most important positive factor,” said analyst Alex Saunders from the bank.
The cryptocurrency market has struggled to regain momentum after Bitcoin reached its historic peak in October 2025. Prices have tended to decline amid weak risk appetite and diminishing excitement following the halving event. BTC is trading below key technical levels, while Ether is even weaker due to poor trading activity. However, ETF capital flows remain stable, helping to prevent the market from declining sharply despite the macroeconomic and geopolitical context continuing to limit upward momentum.