The price movement of Bitcoin and Ethereum has been slowed down due to the bearish market outlook. This is due to increasing geopolitical tensions. Recently, both assets have shown resilience but struggle to gain momentum.
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Citigroup reduces Bitcoin and Ethereum prices targets for 2026
Reuters has published a report that reveals a prominent banking institution. Citigroup has lowered their Bitcoin and Ethereum forecast for 2026. According to the company, Bitcoin could now be trading at $112K while ETH might rise up to $3175. The esteemed firm predicted that both assets would reach high prices, reaching as high as $143,000 and $4,300, respectively.
Citigroup also cited the delayed introduction of the US Crypto Market Bill as the primary factor that affected both assets and prompted the firm to lower its previous forecast.
“Regulatory catalysts will drive further adoption and flows, but the window of opportunity for U.S. legislation this year is narrowing,” Citi strategist Alex Saunders wrote in a memo on Monday.
Citi stated that BTC and ETH could drop to as low $58K in a scenario of micro recession. In a bull scenario, when demand is higher, BTC and ETH can reach as high as $4.4K and $165K respectively.
Citigroup may have made it clear how BTC or ETH will react in the future. However, Javon marks and other notable experts still think that there is a lot of room for growth. Marks believes that Ethereum will eventually reach new heights. It may start with a top near $5000, and move on to $8,000.
“$ETH may only be getting ready to exit a huge accumulation phase. The Targets. $5,000. $8,557. $12,000+. (Ethereum)”
Marks explained how Bitcoin’s OBV breakthrough could lead to the asset reaching a new peak.
“In basically every cycle prior to this one, the OBV broke out and consolidated before surging to new highs, and as it surged to new highs, $BTC followed and entered a parabolic state. Right now, OBV is holding broken out and looks to be in a consolidating state. Next up is likely to be a surge to new highs for the OBV, with Bitcoin following along and entering a parabolic phase…”
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Source: watcher.guru
