A new forecast from Citigroup has inspired optimism in the crypto market, as it suggests Bitcoin will rise to $143,000 within the next 12 months.
Wall Street bank analysts believe that improved regulation in the US and increased inflows of funds into ETF and renewed investor interest could contribute to a significant recovery in the value of digital assets.
According to SoSoValue, from spot ETF on Bitcoin a net outflow of $161 million was recorded, and from spot ETF on эфириум — $96,62 million, extending their losing streak to six days in a row. Meanwhile, in spot ETF on Solana invested $13,16 million, and the net inflow of spot ETF on XRP reached $30,41 million.
SoSoValue data
Citi’s base case scenario puts Bitcoin’s 12-month price target at $143,000, representing a roughly 62% upside from its current price of around $88,000. The bull case raises this figure even higher, to $189,000, primarily due to «increased demand from end investors» and capital infusions. ETF. Efirium could grow by 46% to $4304.
However, a decline is also likely. Citi’s pessimistic scenario predicts a Bitcoin rebound to $78,500, fueled by the risk of a global recession, which could reduce market risk appetite. Under these conditions, Ether could fall to around $1270.
Citi highlights $70,000 as a critical price level reached by Bitcoin before Trump’s 2024 election victory. As long as the price remains above this threshold, analysts believe the upward momentum will continue. They argue that demand driven by ETF, coupled with a strengthening stock market, provides the foundation for the next stage of cryptocurrency growth.
Bitcoin daily price chart, Source: TradingView
December 20 evening Bitcoin was trading at $88,298, up 0,5% on the day and down 2,2% on the week over the past week.
Technically, Bitcoin is in consolidation, trading in the April price range. The price fluctuates between support at $84,320 and resistance at $93,044. The relative strength index (RSI) is neither overbought nor oversold.