Citi's target price cut is quite severe, and the expectation of ETF inflows dropping to zero adds insult to injury, putting significant short-term sentiment pressure.

CryptoNews: According to Reuters, Citi has lowered its 12-month price targets for Bitcoin and Ethereum to $82,000 and $2,240, respectively, from previous targets of $112,000 and $3,175. This move reflects negative ETF inflows and the stagnation of U.S. crypto legislation. So far this year, Bitcoin ETF inflows have dropped by approximately $3.3 billion, and Citi has also revised down its expected ETF inflows for the coming year from $10 billion to zero. Additionally, Citi mentioned that potential sell-offs by treasury companies and capital rotation toward AI-related assets will exert pressure on the crypto market.