Key takeaways
- Citigroup set a 12-month base price target of $143,000 for Bitcoin, fueled by ETF demand.
- Institutional interest in spot Bitcoin ETFs is generating bullish projections for BTC.
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Analysts at Citigroup set a base price target of $143,000 for Bitcoin over the next 12 months in a recently released report, driven by expectations of renewed demand for spot exchange-traded funds and favorable macroeconomic conditions.
The report identifies $70,000 as a key support level, with potential for a big upside from current levels as institutional capital continues to flow through spot Bitcoin ETFs.
In a bearish scenario, analysts predict that Bitcoin will fall to $78,500 in the event of a global recession. In a more optimistic scenario, the report forecasts a price of $189,000, driven by accelerating investor demand.
