Citi Cuts 12-Month Bitcoin Target to $82,000 on ETF Outflows

Citigroup sharply lowered its 12-month price targets for Bitcoin and Ether.

Reuters reported on July 30 that Citi cut its 12-month target for Bitcoin to $82,000 from $112,000 in a report released that day. It also lowered its 12-month target for Ether to $2,240 from $3,175.

Citi cited weaker investor demand, exchange-traded fund outflows and delays in US digital-asset legislation as the main reasons for the cuts. The bank said the cryptocurrency market has remained weak this year amid high volatility and persistent ETF outflows.

Bitcoin fell into the $58,000 range on July 30, touching its lowest level since September 2024. That left it down nearly 50% from the record high it reached in October last year. Ether also slid to around $1,500, its lowest level since April 2025.

Under its bearish scenario, Citi sees Bitcoin falling to $53,000 over the next 12 months. In that case, Ether could drop to $1,094. The scenario assumes a recessionary macroeconomic backdrop and continued ETF outflows.

"ETFs, a key driver of Bitcoin prices, have seen net outflows of $3.3 billion so far this year," Citi wrote. It added that bearish sentiment has pushed both Bitcoin and Ether below their long-term moving averages, and that broad investor adoption will likely remain stalled until a new catalyst emerges.

Citi also said concerns that digital-asset treasury companies such as Strategy could sell Bitcoin are weighing on investor sentiment. The bank added that the recent weakness in the cryptocurrency market has coincided with a shift in capital toward the artificial intelligence industry.