Citi announced on July 1 that it has slashed its 12‑month Bitcoin price target to $82,000, down from the previous $112,000, representing a roughly 27 % reduction. The adjustment marks the bank’s most bearish outlook on the cryptocurrency since it began issuing crypto forecasts. Investors will now gauge Bitcoin’s market trajectory against this tighter projection.
New 12‑Month Target
The revised target of $82,000 reflects Citi’s latest assessment of Bitcoin’s price potential over the coming year. The bank’s analysts cited a sharp contraction in institutional appetite as the primary catalyst for the downgrade. This figure replaces the earlier $112,000 outlook that had been set just months earlier.
Why Citi Cut Its Outlook
Citi’s research team highlighted a stagnation in spot Bitcoin ETF inflows as the chief driver behind the price‑target cut. The institution now forecasts net ETF inflows of zero for the next twelve months, a stark contrast to the $10 billion it had projected previously. Year‑to‑date ETF flows have already retreated by about $3.3 billion, eroding the momentum that once supported a more optimistic forecast.
Bear‑Case Projection
In its bear‑case scenario, Citi warns that Bitcoin could tumble to as low as $53,000 if recession‑like conditions emerge and ETF outflows persist. The bank’s earlier March downgrade—from $143,000 to $112,000—was linked to delays in the US Digital Asset Market Clarity Act, a legislative effort still awaiting resolution. Citi now argues that weakened ETF demand, rather than any single large seller, poses the greatest risk to the crypto market.