Citi turns more bullish on Bitcoin and Ethereum: so what could stop the crypto rally?
Market / Price
Bitcoin and Ethereum held firm on Thursday after Citigroup raised its 12-month forecasts for both assets, adding another Wall Street endorsement to a crypto rebound that has gathered pace since July. Citi lifted its Bitcoin target to $113,000 from $82,000 and its Ether forecast to $3,028 from $2,240, citing stronger market activity, an improving macro backdrop and the return of exchange-traded fund inflows. Bitcoin traded around $84,000, while Ethereum was near $2,700. The new targets imply roughly 35% upside for Bitcoin and about 12% for Ethereum, but the rally still faces high bond yields, inconsistent ETF demand and unresolved US regulation.
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