Citi slashes Bitcoin target by $31,000 despite rising prices as Washington delays stall crypto breakout

Citigroup cuts Bitcoin and Ethereum targets as slower US policy timeline trims the upside case Citigroup has cut its 12-month targets for Bitcoin and Ethereum, lowering its Bitcoin forecast to $112,000 from $143,000 and its Ethereum forecast to $3,175 from $4,304. The March 17 revision marks a sharp step down from the bank’s December view and ties that reset to slower US legislative progress, a delay that Citi said is weighing on the policy support it had expected to help drive ETF demand and wider adoption. The cuts are large enough to change the shape of the one-year crypto outlook without turning Citi bearish on the two assets. Bitcoin’s new target is about 21.7% below Citi’s prior forecast, while Ethereum’s new target is about 26.2% below the earlier call. Both new targets still sit above current market prices. Based on the latest CryptoSlate figures, Citi’s revised Bitcoin target still implies roughly 51.8% upside from spot, while its revised ether target implies about 36.8% upside. Citi still expects Bitcoin and Ethereum to rise over the next year. But it has sharply lowered the ceiling it sees for both assets because the bank no longer expects the same pace of regulatory progress, institutional demand, and network follow-through that shaped its December forecasts. For a market that has already bounced in recent weeks, the downgrade reads less like a call for immediate downside and more like a warning that the path higher may be slower and narrower than the earlier bull case assumed. That warning lands as both assets have posted recent gains. Bitcoin trades around $74,000, up 4.5% over seven days, and 7.5% over 30 days. Ethereum sits near $2,300, up 12% over seven days, and 15% over 30 days. The downgrade arrives as the market has recovered tactically, even as one of Wall Street’s largest banks has lowered its one-year expectations. Related Reading Citi raises stablecoin market projection to $1.9 trillion by 2030 despite low institutional maturity The banki...