Live Markets: Citi sees bitcoin hitting $135K
25/07/2025 10:37
STOXX 600 down 0.3% Puma sinks after results BoJ, Fed meet next week Wall St futures steady Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com CITI SEES BITCOIN HITTING $135K Analysts at Citigroup see bitcoin BTC= hitting $135,000 at year-end in their base case, but they note the forecast-risk is skewed to the upside, in part because of the recent acceleration in ETF flows. "Crypto assets, especially Bitcoin, have grown and are now included in large financial indices," writes Citi quant analyst Alex Saunders. Saunders notes that crypto related securities make up a meaningful proportion of convertible bond indices and are included in the S&P 500 .SPX, Nasdaq .IXIC and Russell 2000 .RUT. Overall, Saunders sees bitcoin rising to $135,000 by year-end, implying almost 17% upside from current levels. The bull case, which assumes higher ETF flows, gives a year-end estimate of $199,000, while the bear case, which would stem from a poor macro environment, would lead to an expected decline to $64,000. (Samuel Indyk) ***** EARLIER LIVE MARKETS POSTS: EUROPEAN SHARES DROP, EARNINGS WEIGH CLICK HERE EUROPE BEFORE THE BELL: FUTURES SOFT BEFORE KEY WEEK CLICK HERE MARKETS CALM AFTER GIDDY WEEK OF TRADE DEALS CLICK HERE Tokyo inflation over the last five years https://reut.rs/4lLZnbd European stocks fall as earnings weigh https://reut.rs/3H3GMYO