BiJie.com reports that Citibank has lowered its 12-month target price for Bitcoin to $58,580.68 and expects the target price for Ethereum to be $2,240, citing a collapse in demand for exchange-traded funds (ETFs) and a bleak outlook for U.S. crypto legislation. Citibank also cut its basic forecast for Bitcoin from $112,000 to $82,000, believing there will be no net ETF inflows over the coming year. In the report, analyst Alex Saunders pointed out that the lack of catalysts will lead to declining investor interest, with expected inflows for the next 12 months at zero. Citibank’s report shows that in June, ETFs recorded net outflows of $4 billion, the largest single-month withdrawal in history, reflecting a significant weakening in market demand for crypto assets.

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RecedingTideAfterTheRain
· 9h ago
The ETF withdrawal of 4 billion is indeed painful, but saying there's been no inflow for a year is too absolute.
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LiquidityTeaMaster
· 9h ago
I sold half during that net outflow wave in June, and now I kind of regret it.
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TransparentDome
· 9h ago
When institutions are bearish, it often approaches the bottom, historical experience.
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AutumnSlopePath
· 9h ago
Citi's forecast is too pessimistic. Zero inflow? I don't believe it.
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