Citi cuts BTC and ETH targets, sees no new highs in 2026

Citi lowered 12‑month targets for Bitcoin (BTC) and Ethereum (ETH). The bank says stalled US crypto legislation limits upside this year [Reuters].

The call focuses on regulatory catalysts. Citi notes they drive institutional and ETF demand, but progress in Washington is slow [Reuters].

• Citi cuts BTC 12‑month target to $112,000 from $143,000 [Reuters]
• Citi cuts ETH 12‑month target to $3,175 from $4,304 [Reuters]
• Bank does not expect new all‑time highs for BTC and ETH in 2026 [Reuters]
• Upside case on stronger end‑investor demand: BTC $165,000, ETH $4,488 [NewsBTC]

Election timing tightens the window. If Democrats add seats in November, odds of passing the crypto market structure bill (CLARITY Act) fall. The bill needs support from 7 Senate Democrats to advance [NewsBTC].

Galaxy Digital’s Alex Thorn adds urgency. “If progress doesn’t happen this month, the chances this year are extremely low.” Talks center on stablecoin rewards, with DeFi, investor protections, and ethics also on the table [Bitcoinist].