Citigroup has reduced its 12-month price targets for Bitcoin and Ethereum, citing headwinds from delayed U.S. cryptocurrency regulation. The bank now forecasts Bitcoin at $112,000, down from a previous target of $143,000, while lowering its Ethereum projection to $3,175 from $4,304.
The downward revision reflects growing uncertainty around the legislative environment for digital assets in the United States. Citi's more conservative baseline scenario contrasts with alternative outcomes the bank outlined: a bullish case where Bitcoin reaches $165,000 and Ethereum climbs to $4,488, and a bearish scenario placing Bitcoin at $58,000 and Ethereum at $1,198.
The forecast adjustment marks a pullback from prior bullish sentiment at the bank, suggesting institutional analysts are recalibrating expectations as regulatory clarity remains elusive heading into 2026. The wide range between bull and bear cases underscores the significant policy risk overhang the sector currently faces.