The currency circle is getting colder again! After Bitcoin falls below $60,000, Citigroup slashes targets for Bitcoin and Ethereum.

According to the Zhitong Finance and Economics APP, as the market expectation for the Federal Reserve's interest rate hike continues to rise and institutional investors massively withdraw from Bitcoin ETFs and other cryptocurrency-related ETF assets, Citigroup has lowered its 12-month forecast for Bitcoin and Ethereum. The company stated that weakened investor interest, negative fund flows from exchange-traded funds (such as Bitcoin and other cryptocurrency ETFs), and the lack of progress in US digital asset legislation have damaged the investment prospects for these two major cryptocurrencies.