Citigroup took a pink pen to its crypto forecasts on Tuesday, reducing its 12-month value targets for bitcoin after the ETF flows that carried the market increased went into reverse.
The financial institution now sees bitcoin at $82,000 a yr out, down from $112,000. It’s the second time Citi has trimmed these numbers in 2026. An earlier spherical of cuts had already pulled bitcoin down from $143,000.
What modified most is how Citi thinks about Bitcoin ETFs. The financial institution had been penciling in $10 billion of web inflows over the approaching yr. It now expects zero.
That could be a large swing, and it displays what has occurred within the funds themselves: BTC ETFs have shed roughly $3.3 billion in 2026, and June alone noticed $4 billion stroll out the door — the worst month on document for the merchandise.
Citi’s analysts tied the downgrade to a mixture of softer investor demand, these adverse ETF flows, and a Washington that has but to maneuver on digital asset laws.
In addition they raised a extra particular fear: that digital asset treasury firms, which have loaded up on bitcoin, may begin promoting. Add in a broader shift of cash towards something with an AI label, and the setup for crypto has turned defensive.
If issues worsen, they may get quite a bit worse. Citi’s bear case — constructed on a recession and a gradual drip of ETF withdrawals — places BTC at $53,000 over the following 12 months.
Bitcoin value jumps above $60,000
Bitcoin presently trades at $60,041, up $1,698 (2.91%) on the day, per the reside chart dated July 1, 2026.
Over the previous 24 hours it swung between a low of $57,717.55 and a excessive of $60,473.99, with the most important push coming after 9:00 a.m., when value broke from round $58,500 up previous $60,400.
Quantity ran to 446,377 BTC, or $26.85 billion. Market cap sits at $1.20 trillion, in line with Bitcoin Journal knowledge.
Again in April, Citi stated including bitcoin alongside gold may enhance portfolio efficiency, arguing that splitting a conventional 5% gold allocation between the 2 property enhanced returns whereas offering higher resilience throughout inflationary and bond market stress.
The report additionally famous BTC was more and more behaving as each a geopolitical hedge and a impartial settlement asset, with analysts pointing to robust value momentum, bearish derivatives positioning that might gas additional beneficial properties, and BTC outperforming gold throughout current market volatility.