Wall Street bank Citi has revised its 12-month Bitcoin price forecast downward to $82,000, reflecting a broader reassessment of the cryptocurrency's near-term prospects. The bank attributed the cut to collapsing demand for spot Bitcoin exchange-traded funds, which had previously channeled significant institutional capital into the asset. Citi also pointed to weakening investor sentiment and delays in U.S. crypto legislation as factors weighing on its outlook. The reduced target signals caution about Bitcoin's ability to sustain higher valuations amid softening inflows and regulatory uncertainty. ETF products, once viewed as a key driver of upward momentum, are now seeing money head for the exits, undermining a pillar of recent bullish forecasts. The revision from a major financial institution underscores growing skepticism about Bitcoin's short-term trajectory as market conditions and policy timelines remain unsettled heading into the coming year.
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