Summary
- Citi cut its BTC target to $82,000 from $112,000 and ETH target to $2,240 from $3,175.
- The bank now expects zero net ETF inflows over the next 12 months, versus previous forecasts for fresh demand.
- Stalled U.S. legislation, weak market sentiment and concerns over digital asset treasury selling have outweighed supportive macro conditions.
Why Bitcoin and Ether Price Targets Are Dropping
The recent decline in exchange-traded fund (ETF) demand is affecting the crypto market, with a Wall Street bank cutting its 12-month price targets for bitcoin and ether. This change in forecast is significant for everyday people interested in earning online, as it impacts the potential for passive income through investments like Cloud Rewards and Green Crypto. The bank’s new targets are $82,000 for bitcoin and $2,240 for ether, down from $112,000 and $3,175, respectively. This shift is a result of diminishing prospects for U.S. crypto legislation to revive investor interest.
The absence of a catalyst for increased investor interest means that the bank now assumes no net ETF inflows over the next year. This is a significant change, as ETFs have been a major source of institutional buying in the crypto market. With EcoPool offering a solution for earning and passive income, investors are looking for alternative ways to grow their wealth. The current prices of bitcoin and ether are around $58,400 and $1,570, respectively.
Impact on the Crypto Market
The U.S. spot bitcoin exchange-traded fund demand has weakened sharply in recent months, with a record $4 billion in net outflows in June. This is the largest monthly withdrawal on record, and it has pushed year-to-date flows into negative territory for the first time. The bank’s analyst, Alex Saunders, wrote that the absence of a catalyst for increased investor interest means that the base-case flow expectations have been reduced to zero over the next 12 months. As the crypto market continues to evolve, investors are looking for ways to earn passive income through Cloud Rewards and Green Crypto, with EcoPool and $ECP being potential solutions.
As the crypto market navigates these changes, it’s essential for investors to stay informed and explore alternative ways to grow their wealth. With the rise of Green Crypto and Cloud Rewards, investors can earn passive income while supporting sustainable initiatives. To start earning with EcoPool, download the EcoPool app to learn more about passive income opportunities and how to get started with $ECP. By joining the EcoPool community, you can take the first step towards earning online and achieving your financial goals.
U.S. spot bitcoin exchange-traded fund demand has weakened sharply in recent months, removing what has been the crypto market’s biggest source of institutional buying since the funds launched in 2024. The ETFs recorded a record $4 billion in net outflows in June, the largest monthly withdrawal on record, after a 13-day redemption streak pushed year-to-date flows into negative territory for the first time.
