Bitcoin earns base case target of $143,000 at Citigroup

Citigroup has outlined its forecast for Bitcoin to reach a target of $143,000 based on anticipated further inflows into crypto ETFs and a continuing rally in traditional equity markets. The recent strength in Bitcoin's price suggests a bullish sentiment, especially if ETF approvals proceed, which could accelerate growth in the crypto market. Additionally, the crypto space is becoming more integrated with traditional financial markets, with Bitcoin increasingly viewed as a hedge against inflation by investors. Should the stock market continue to rise, it is likely that funds flowing into risk assets like Bitcoin will increase. However, it is crucial to remain cautious of market volatility. Negative economic indicators or regulatory crackdowns could lead to sudden drops in Bitcoin's price, implying that reaching this target significantly depends on external factors.