Bitcoin has captured attention once again following an analysis from Citigroup. The analysts have outlined a broad price spectrum for the upcoming year that reflects both potential gains and the risks of decline.
According to the bank’s recent forecasts, the base-case target is projected at $143,000 over the next year, supported by expectations for increased ETF participation and more defined regulatory frameworks. Citi also described an optimistic scenario that could see Bitcoin reaching $189,000, while a pessimistic outlook suggests a drop to $78,500.
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ETF Adoption And Institutional Demand
Citi’s base and optimistic scenarios revolve around the same fundamental idea: the increasing significance of regulated investment vehicles influencing Bitcoin’s market dynamics. Crypto experts have noted that Spot Bitcoin ETFs have reduced barriers for institutional investors, facilitating large capital flows without the complications of direct custody.
Citi analysts are embracing this perspective and predict bullish price movements for Bitcoin. Factor in expected ETF interest and clearer regulations, and Citi anticipates Bitcoin achieving $143,000 within the next 12 months.
Interestingly, these analysts believe that under a bullish scenario, Bitcoin could trade around $189,000 in the same timeframe. Such forecasts are striking given the current state of Bitcoin’s market, which is hovering near $90,000. These predictions also rely on a shift in the dynamics of Spot Bitcoin ETF flows.
LATEST: 📈 Citi analysts place Bitcoin’s 12-month price base case at $143,000, with anticipated ETF interest and regulatory clarification propelling a bullish scenario of $189,000, and a bearish one at $78,500. pic.twitter.com/jAukEDkXQe
— CoinMarketCap (@CoinMarketCap) December 20, 2025
Despite these optimistic forecasts, Citi also highlighted potential downside risks that could hinder bullish trends. A pessimistic view from Citi’s analysts indicates that Bitcoin could fall to $78,500 over the coming year.
Fundstrat’s Internal View Contrasts With Citi’s Optimism
Citi’s positive projections starkly contrast with a more cautious outlook recently noted by Fundstrat Global Advisors. Internal discussions within Fundstrat suggest a potential pullback of Bitcoin’s price toward the $60,000 to $65,000 range.
According to an internal memo shared with clients, Fundstrat’s head of digital asset strategy, Sean Farrell, warned that another correction may occur in the first half of 2026 due to macroeconomic pressures and tightening financial conditions impacting risk assets.
According to @_FORAB, Tom Lee’s fund, Fundstrat, indicated in its latest 2026 cryptocurrency strategy briefing to internal clients that a significant correction is anticipated in the first half of the year, sharply contradicting Tom Lee’s public comments.
The internal report sets… pic.twitter.com/HbRoNzr85z
— Wu Blockchain (@WuBlockchain) December 20, 2025
The report identified downside targets suggesting Bitcoin could fall in the $60,000 to $65,000 range, reflecting a 30% decline from its current price. Additionally, the same analysis forecasts Ethereum retreating to the $1,800 to $2,000 range, and Solana potentially dropping to between $50 and $75.
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This perspective clashes with the public position of Fundstrat co-founder Tom Lee, who has consistently maintained an optimistic view regarding the long-term trajectory and new all-time highs for Ethereum and Bitcoin.
Featured image from Unsplash, chart from TradingView
