crypto

Toby Bochan10/2/25

Bitcoin, ethereum get bullish 12-month price targets from Citi

Citi updated its price targets for the two largest cryptocurrencies in a note Wednesday, predicting a 12-month target of $181,000 for bitcoin and $5,440 for ethereum.

While overall, Citi analyst Alex Saunders wrote that the firm is “more positive on Bitcoin compared to Ether, as it captures an outsized portion of incremental flows into crypto markets,” he trimmed bitcoin’s year-end price target to $133,000 from $135,000, citing a stronger dollar and weaker gold price as offsetting factors.

Ethereum, on the other hand, got a price target bump up to $4,500 from $4,300 by year-end due to flows surging following “stablecoin regulation increasing interest in the network and tokenization and the rise of DATs.”

Many of the splashiest entries into the digital asset treasury (DAT) space have been ethereum-based treasuries lately, with companies like BitMine Immersion Technologies and SharpLink Gaming launching DATs and stockpiling huge amounts of ethereum in just the second half of this year.

Bitmine now holds 2,650,900 ETH worth $11.7 billion, while SharpLink has 838,728 ETH worth $3.7 billion. To put that in context, Strategy, the largest corporate bitcoin holder, has 640,031 BTC worth $47.3 billion.

More Crypto

Yaël Bizouati-Kennedy6h

Crypto liquidations reached $1.2 billion in the past 24 hours, according to CoinGlass data, as bitcoin continued its downward trajectory. Bitcoin suffered $458.24 million in liquidations, with the bulk of them — over $334 million — in long positions. Meanwhile, the second-biggest crypto, ethereum, saw the second-biggest figure for liquidations yesterday, with $278 million.

Bitcoin slipped as far as $103,856 early Friday morning, its lowest level since July, and is down 13% in the past seven days. The sell-off dragged the total crypto market cap down to $3.67 trillion, down 5.5%. Underscoring the market anxiety, CoinMarketCap’s fear and greed index is now at 28.

Bitcoin ETFs also suffered, registering $536 million in outflows on Thursday. The Ark 21 Shares Bitcoin ETF took the biggest hit, with $275.15 million in outflows. Since Monday, bitcoin ETFs have seen $864.5 million in outflows.

Maja Vujinovic, CEO and cofounder of digital assets at FG Nexus, told Sherwood News that bitcoin’s slump looks like a classic risk-off chain reaction.

“Credit jitters and trade tensions pushed money into gold at record highs while leveraged crypto longs were forced to unwind. Once the liquidations exhaust and policy fog clears, the same macro buyers chasing safety today are likely to hunt value in BTC again,” Vujinovic said.

SharpLink Gaming announces $76.5 million capital raise and potential to more than double that

An analyst noted that “flows and positioning, not fundamentals, are shaping the ETH story right now.”

Money in fist

Yaël Bizouati-Kennedy

Desperately Seeking Uptober

Bitcoin drops below $110,000, while treasuries slow down acquisitions

Glassnode analysts wrote that “the market is in a reset phase.”

Bitcoin sign balloon deflated

Ethereum ETFs flip black as the token rebounds above $4,000

SharpLink Gaming generated 488 ethereum tokens worth about $2 million from staking last week, while ETHZilla announced a reverse stock split at a 1-for-10 ratio.

Two Basketball Players

Yaël Bizouati-Kennedy10/15/25

The US government seized 127,271 bitcoin, worth $15 billion, in what it calls the Department of Justice’s “largest ever forfeiture action.”

The indictment against Chen Zhi, chairman of Cambodian conglomerate Prince Group, alleges that he engaged in wire fraud conspiracy using forced labor in Cambodia.

“Individuals held against their will in the compounds engaged in cryptocurrency investment fraud schemes, known as ‘pig butchering’ scams, that stole billions of dollars from victims in the United States and around the world. The defendant is at large,” according to a DOJ press release.

This is “exactly the kind of outcome the Strategic Bitcoin Reserve was designed to enable,” Zack Shapiro, managing partner at Rains Law and head of policy of the Bitcoin Policy Institute, said on X.

This significantly increases the size of the US’s strategic reserve, which held over 197,000 bitcoin before the seizure. As of today, Arkham Intelligence data shows it’s holding 324,780 bitcoin, worth over $37 billion.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.

©2025 Sherwood Media, LLC