Citi Calls For Much Higher BTC, NEAR ETF Goes Live, And More
This week’s stories spanned institutional forecasts, security failures and new crypto products. Citi raised its 12-month bitcoin target to $113,000 and projected $5 billion in crypto fund inflows. NEAR Intents disclosed a $3.8 million exploit, while Zano rewound its chain by 30 days after more than $200 million in illicit token minting. Bitwise launched a NEAR ETF with roughly 5% staking yield, and the TRUMP memecoin brought back its holder gala with 185 seats.
Key Takeaways
NEAR Intents’ $3.8M exploit and Zano’s 30-day rollback underscore crypto infrastructure risks.Bitwise’s NEAR ETF expands institutional access, pairing token exposure with roughly 5% staking yield.Citi expects growing advisor allocations to drive $5B in crypto fund inflows over the next 12 months.
WEEK IN REVIEW
Citi Sets $113K Bitcoin Price Target, Expects $5 Billion in Crypto ETF Inflows
Citi projects $5 billion in cryptocurrency investment product inflows over the next 12 months as advisors gradually increase allocations.
Editor’s Comment:
Citi analyst Alex Saunders cited favorable activity, macro, and ETF flows for the price target. The new target for BTC represents a 37.8% increase from previous forecasts, and the bank’s $3,028 ETH target represents a 31% jump.
NEAR Intents Bug Sends $3.8M Racing Across Crypto Networks
NEAR Intents halted services after a bug involving its Omni deposit and withdrawal infrastructure led to an estimated $3.8 million loss.
Editor’s Comment: It’s important to note that this bug had nothing to do with the NEAR network or token. As reported from the NEAR Intents X page: The incident was caused by a bug in the Omni deposit and withdrawal infrastructure interaction with NEAR Intents smart contract. The strengthening NEAR narrative appears to still be intact.
Zano Says Over $200M in Illicit Tokens Led to 30-Day Blockchain Rewind
Zano has disclosed the bug that forced its extraordinary 30-day blockchain rewind in a recent postmortem.
Editor’s Comment:
A 30-day rollback might be the longest rollback ever done, at least in recent memory. Despite privacy remaining one of the key sectors and narratives, ZANO has been trending down hard for over a year now, not managing to catch a rotation from ZEC and XMR.
Bitwise Launches NEAR ETF With 5% Yield and an AI Bet
Bitwise has launched a U.S.-listed NEAR ETF offering spot exposure to the token alongside staking rewards of roughly 5%.
Editor’s Comment:
As aforementioned, the NEAR narrative is intact. Getting the nod of approval from Bitwise, the OG of providing institutional access to crypto, has rarely anything but a bullish catalyst.
Trump Meme Coin Gala Returns With 185 Seats, VIP Gold Watches
The TRUMP meme coin team is putting another dinner with President Donald Trump on the leaderboard.
Editor’s Comment:
As noted by Bitcoin.com news lead Jamie Redman, this gala will indeed have an “odd backdrop.” TRUMP is currently trading at around $2 and has been down in a straight line since just a few days after its launch in January 2025. It is down 97% from its all-time high. Maybe TRUMP holders deserve a nice little party at the golf course.
