Cryptocurrencies rise as Citi adjusts Bitcoin, Ethereum forecasts

02/10/2025 Argaam
Cryptocurrencies rise as the US government shutdown adds to global market uncertainty

Cryptocurrencies rise as the US government shutdown adds to global market uncertainty

Cryptocurrencies gained during Thursday trading as the US government shutdown added to global market uncertainty.

 

Bitcoin rose 1.04% to $118,749 as of 9:43 a.m. Makkah time, according to Coinbase data.

 

Ethereum climbed 1.81% to $4,410.52, Ripple gained 1.15% to $2.9813, and Dogecoin surged 3.92% to 25.61 cents.

 

Citi raised its year-end target for Ethereum to $4,500 from $4,300, supported by strong inflows from exchange-traded funds, while lowering its Bitcoin forecast to $133,000 from $135,000.

 

An ADP report released yesterday showed an unexpected decline in US private sector jobs in September, reinforcing signs of labor market weakness and prompting traders to increase bets on two additional Federal Reserve rate cuts this year.

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