TechFlow news, October 14 — According to CoinDesk, a new report from Citibank indicates that last week's escalation in U.S.-China trade tensions triggered severe volatility in the crypto market, resulting in the liquidation of approximately $20 billion worth of leveraged long positions and a market value loss exceeding $50 billion. Bitcoin briefly plunged 13% to $102,000.
Nonetheless, Citibank maintains its year-end price forecasts of $133,000 for Bitcoin and $4,500 for Ethereum, with 12-month targets set at $181,000 and $5,400 respectively. Analysts noted that ETF inflows have remained resilient, primarily driven by new investors who use less leverage.
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