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Deep Tide TechFlow News: On March 18, according to CoinPost, Citigroup has lowered its 12-month price forecasts for Bitcoin and Ethereum, citing stalled progress on the "CLARITY Act," the U.S. cryptocurrency market structure legislation.
Specifically, Citigroup reduced its Bitcoin price target from $143,000 to $112,000, and Ethereum from $4,304 to $3,175. ETF demand forecasts were also revised downward accordingly, with Bitcoin projected at $10 billion and Ethereum at $2.5 billion. Alex Sanders, head of Citigroup research, noted that regulatory progress will impact Bitcoin adoption and capital inflows, but the likelihood of legislation being completed this year has clearly diminished.