Debasement Fears & D.C. Developments Drive Citi To Hike Crypto Price Targets

Crypto markets received a joint boost from "debasement fears" and new agency guidelines even as the broader more permanent Clarity Act failed to progress in the Senate, according to Citi analysts' latest report (full note available here for pro subs).

They have lifted their forecast price targets for Bitcoin (from $82,000 to $113,000) and Ether (from $2,240 to $3,028) as activity, the macro-backdrop, and ETF flows are all expected to bolster returns.

Flows Remain The Dominant Driver