Citigroup Cuts Bitcoin and Ether Price Targets as US Crypto Legislation Stalls
Citigroup lowered its 12-month price targets for Bitcoin and Ether, citing weaker network activity and delays in US crypto legislation despite continued ETF inflows.
Ordinals are a technical methodology for uniquely identifying, tracking, and attaching extra data to individual satoshis, the smallest divisible unit of Bitcoin. Enabled by the Taproot network upgrade, the Ordinals protocol assigns a sequential number to every satoshi minted and allows users to "inscribe" them with digital content such as images, text, or audio. This inscription process effectively transforms a standard, fungible unit of Bitcoin into a non-fungible token directly on the primary blockchain without the need for separate sidechains or secondary layers. By storing the data directly within the transaction witness data, these digital artifacts inherit the full security, permanence, and immutability of the Bitcoin network. Ordinals vastly expanded the utility of the Bitcoin blockchain beyond simple financial transactions, creating a vibrant ecosystem for digital collectibles.
Citigroup lowered its 12-month price targets for Bitcoin and Ether, citing weaker network activity and delays in US crypto legislation despite continued ETF inflows.
South Korea’s National Police Agency is drafting new guidelines for handling seized cryptocurrencies as authorities seek stronger custody procedures.
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BitMEX co-founder Arthur Hayes said he would not invest in Bitcoin at current levels, arguing he will wait for US monetary easing before re-entering the market.
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