Banking giant Citi has cut its Bitcoin (BTC) price target for the second time this year, lowering its 12-month outlook to $82,000 from $112,000, a drop of roughly 27%.
The revision, issued July 1, marks the bank’s most bearish stance on Bitcoin since it began publishing crypto forecasts, and it signals a broader shift in how Wall Street views digital assets heading into the second half of the year.
The bank’s Bitcoin 12-month price target now reflects a sharp pullback in institutional demand. Citi’s research team pointed to a stall in spot Bitcoin ETF inflows as the primary driver behind the downgrade.
The bank has reduced its projected net ETF inflows for the next 12 months to zero, down from an earlier estimate of $10 billion.
Bitcoin ETF flows are down close to $3.3 billion so far this year, reversing the momentum that fueled Citi’s more optimistic outlook in late 2025.
Increased Bitcoin bearish outlook
Citi’s downgrade builds on a pattern that started e
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