Bitcoin ETF Outflows, Citigroup's Bearish View

Citigroups recent report reveals a significant drop in crypto futures, leading to nearly four billion dollars in outflows from Bitcoin ETFs. This has resulted in a fall in Bitcoins price, aligning with Citigroups pessimistic forecast. Long-term holders are growing concerned due to the weaker second year of the Bitcoin halving cycle and lack of immediate growth catalysts. Citigroup predicts eighty thousand dollars as a crucial level for ETF holders, with twelve-month targets unchanged at twenty-five billion dollars in flows and a Bitcoin price of one hundred eighty-one thousand dollars.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.