Citi slashes Bitcoin target to $82K, Ether to $2,240 on ETF outflows
The bank also zeroed its 12-month ETF inflow forecast, citing $3.3B in year-to-date Bitcoin ETF outflows and a stalled U.S. crypto legislative agenda.
Bitcoin (BTC) is the first decentralized cryptocurrency, introduced in 2009 by an individual or group operating under the pseudonym Satoshi Nakamoto. It runs on its own blockchain, the Bitcoin network, secured through a Proof of Work consensus mechanism in which miners use computing power to validate transactions and produce new blocks roughly every ten minutes. The protocol defines a hard cap of 21 million coins, and the block reward given to miners is automatically halved approximately every four years, embedding a predictable, disinflationary issuance schedule into the network. This scarcity, combined with permissionless access and resistance to censorship, has led many to characterize Bitcoin as a form of digital gold or a store of value distinct from traditional fiat currencies. Beyond peer-to-peer transfers, the Bitcoin ecosystem has expanded to include Ordinals, a method of inscribing data onto individual satoshis that enables NFT-like assets directly on the base layer, and BRC-20, an experimental fungible token standard built on those inscriptions. Emerging Bitcoin Finance (BTCFi) initiatives extend these capabilities further, allowing BTC to be used in staking, lending, and cross-chain security applications, positioning Bitcoin as a foundation for a broader decentralized financial ecosystem.
The bank also zeroed its 12-month ETF inflow forecast, citing $3.3B in year-to-date Bitcoin ETF outflows and a stalled U.S. crypto legislative agenda.
The cut lands as spot BTC ETF flows turn negative and a major Wall Street desk openly resets its base case lower, a rare public downward revision from a top-tier bank.
STRC's ~13% recovery over the final session did the work; STRF held above $92 while STRD and STRK lagged, with bitcoin itself closing the month under $60K.
The disclosure itself is certified as compliant, but every category it lists, from $635M in memecoin royalties to 15.75B World Liberty governance tokens, is one Congress is trying to define through…
The prison terms land as China continues to treat crypto-facilitated cross-border yuan conversion as a parallel forex market operating outside SAFE's oversight.
A 20% drop is the headline, but the monthly chart's near-wickless Marubozu candle is the stronger tell: sellers never faced a real challenge for 30 straight days, and analysts now read a path toward…
The first sub-200WMA close since 2023 lands the same week Circle's USDC issuer sheds 16% on a competing institutional stablecoin consortium, while global bond yields quietly pull liquidity from risk…
June was spot bitcoin ETFs' worst month on record at -$4.5B, and Bitcoin just printed its lowest monthly close in nearly two years at $58,643 with the Fear & Greed Index pinned at 11.
The headline number is brutal, but the structural read is worse: BlackRock's IBIT alone handed back $3.55B, and the streak kept extending into the final session of the month.
The $4.5B June outflow beats the worst months of the 2024 bear stretch, and the cited driver, SpaceX's IPO absorbing risk-on capital, reframes the flow as rotation rather than a structural unwind of…
A record $23.1T print and the largest single-month expansion since the 2021 stimulus wave point to liquidity conditions risk-on assets have been waiting on.
A clean break below the $58K floor resets the near-term tape: leveraged longs get flushed, options skew flips defensive, and the next bid is the low-$50s band nobody wanted to talk about.
1.5K $BTC (≈90M) moved from Coinbase Institutional to unknown new wallet.
1.9K $BTC (≈113.8M) moved from unknown wallet to unknown wallet.
1.3K $BTC (≈78.5M) moved from unknown wallet to Coinbase Institutional.
The disclosure puts the President's wallet on the record with nine-figure BTC and ETH positions and a custom WLFI holding, framing personal stake as part of the administration's digital-asset posture.
A sitting VP revealing a direct BTC position is a first for the role, and the disclosure lands as Washington softens its posture on Bitcoin and stablecoin legislation.
A UAE-licensed private bank making a nine-figure BTC allocation is the kind of TradFi footprint the institutional thesis has been waiting on, and the move lands in a thinning pool of Gulf…
878 $BTC (≈51.5M) moved from Coinbase Institutional to unknown wallet.
1.6K $BTC (≈95.9M) moved from unknown wallet to Coinbase Institutional.
Bitcoin is the world's first decentralized cryptocurrency, created in 2009 by the pseudonymous Satoshi Nakamoto.
Bitcoin (BTC) launched on 2009-01-03.
Bitcoin (BTC) is categorised as: Smart Contract Platform, Layer 1 (L1), FTX Holdings.
The official Bitcoin site is http://www.bitcoin.org.
Most recent Bitcoin coverage: "Citi slashes Bitcoin target to $82K, Ether to $2,240 on ETF outflows" — read at /en-US/a/citi-slashes-bitcoin-target-to-82k-ether-to-2240-on-etf.