Citi: Downgrades the 1-year target prices for BTC and ETH to $112,000 and $3,175, respectively

Citigroup has lowered its price expectations for Bitcoin and Ethereum against the backdrop of stalled progress on the cryptocurrency market structure bill. Citigroup has revised its 12-month Bitcoin price forecast in the "baseline scenario" from $143,000 to $112,000, while lowering its Ethereum forecast from $4,304 to $3,175.

Additionally, the forecasts under different scenarios are as follows: 1. Pessimistic scenario: If a recession occurs, Bitcoin could drop to $58,000, and Ethereum may fall to $1,198; 2. Optimistic scenario: Driven by strong end-investor demand from channels like ETFs, Bitcoin could rise to $165,000, and Ethereum could reach $4,488. Alex Saunders, head of Citigroup's research, stated, "The improvement of the regulatory framework is expected to promote the adoption of Bitcoin and inflows of funds, but the likelihood of the U.S. completing relevant legislation this year is decreasing."