Citibank has lowered its target prices for BTC and ETH over the next 12 months to $112,000 and $3,175, respectively

Citigroup has lowered its 12-month price target for Bitcoin from $143,000 to $112,000, and for Ethereum from $4,304 to $3,175.

The bank pointed out that factors such as the stalled progress of U.S. cryptocurrency legislation, declining expectations for ETF fund inflows, and weak on-chain activity are the main reasons for this adjustment in forecasts. The current market trend remains highly dependent on U.S. regulatory developments. Although the CLARITY Act has passed in the House of Representatives, its progress in the Senate has been stalled, and legislative uncertainty continues to restrict institutional capital entry.

Citigroup also stated that despite the recent resilience of ETF fund inflows, it has lowered its 12-month fund inflow expectations for Bitcoin and Ethereum to $10 billion and $2.5 billion, respectively. However, Citigroup indicated that in an optimistic scenario, Bitcoin could still reach $165,000 and Ethereum $4,488.