Wall Street investment bank Citigroup lowered its 12-month price targets for bitcoin $BTC$73,795.35 and ether ($ETH), citing slower legislative momentum in the U.S., softer network activity, and reduced expectations for ETF inflows.

Citi now sees bitcoin reaching $112,000 and ether $3,175 over the next year, down sharply from prior forecasts of $143,000 and $4,304.

The revised targets still suggest substantial upside. Bitcoin was trading around $74,000 at the time of publication. Ether was at $2,330.

The bank said inflows remain the key upside driver, though it lowered its 12-month demand assumptions, even as recent ETF demand has picked up modestly despite geopolitical uncertainty.

“ETF demand where we reduce the assumption to $10…