Citigroup lowers Bitcoin and Ethereum price forecasts amid CLARITY Act delays
Citigroup has cut its 12-month price forecasts for Bitcoin and Ethereum, lowering BTC to $112,000 from $143,000 and ETH to $3,175 from $4,304. This revision is linked to delays in the adoption of the CLARITY Act in the United States, a bill expected to bring renewed capital inflow into the crypto sector.
Source Incrypted
Citigroup notes that Bitcoin remains stuck below the $90,000 level and is likely to consolidate while holding key support around $70,000. Without progress in regulatory clarity, a sharp price rally appears less probable.
Given this situation, the overall outlook remains moderately optimistic, but future market dynamics will heavily depend on legislative developments surrounding the CLARITY Act.
Citigroup is one of the world's largest financial institutions, offering a wide range of banking, investment, and global financial market services. Its forecasts are widely regarded as important market indicators.
Therefore, until legislative initiatives progress, one should expect some stabilization in crypto market volatility with gradual recovery under favourable conditions.
Citigroup’s updated forecasts highlight the crucial role of regulatory decisions in shaping the short-to-medium term price movement of leading cryptocurrencies.
