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Bitcoin is trading around $58,900, remaining under pressure after a weak quarter. Investors are cautious because of uncertainty around U.S. interest rates and overall market sentiment.
Reuters +1
Citigroup lowered its 12-month Bitcoin price forecast from $112,000 to $82,000. The bank cited continued outflows from Bitcoin ETFs, weaker investor demand, and slow progress on U.S. crypto regulation.
Reuters
Bitcoin ETF outflows have become a major concern. Analysts say institutional investors have been pulling money from spot Bitcoin ETFs, which has weighed on the price this year.
Reuters +1
Market outlook: Despite the bearish short-term sentiment, some analysts believe Bitcoin could recover if ETF inflows improve or positive regulatory developments emerge.
Until then, volatility is expected to remain high.
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