Markets and regulators shared the spotlight today as institutional optimism for major coins clashed with security incidents and renewed debate over Europe’s proposed crypto rules. Citi raised price targets for Bitcoin and Ethereum even as US spot Bitcoin ETFs recorded net outflows, and an exploit on the NEAR Intents protocol prompted a temporary suspension of services. At the same time, advocacy campaigns and national regulators intensified scrutiny of MiCA-related rules and Binance’s activities in the EU.
Citi raises targets for BTC and ETH as ETF inflows slow
Citigroup boosted its 12-month price targets for Bitcoin to $113,000 (from $82,000) and for Ethereum to $3,028 (from $2,240), citing stronger on-chain activity and a return of ETF inflows. The bank said the failure of the CLARITY bill narrowed the path toward market structure legislation but noted that subsequent SEC rule announcements have eased negative sentiment. Citi also projected roughly $5 billion in crypto inflows over the next 12 months.
Despite that upbeat outlook, US spot Bitcoin ETFs recorded net outflows of $148.7 million on Wednesday, ending a nine-session streak of inflows that had attracted about $3.1 billion. Fidelity’s FBTC led the outflows with $125.6 million, and BlackRock’s IBIT saw $9.5 million leave. September nonetheless closed with $2.65 billion in net inflows, and Bitcoin posted a nearly 43% gain for the third quarter, the fund’s best quarterly performance since 2017.
NEAR Intents halts services after $3.8M exploit
NEAR Intents, an exchange protocol, suspended services on Thursday after an exploit that resulted in roughly $3.8 million being taken. The incident was linked to a bug in Omni infrastructure; the team had earlier rejected a $50 million swap request tied to a Bitget hacker associated with North Korea. Developers patched the vulnerability and pledged full reimbursement, though deposits and withdrawals on certain networks remained offline for about 12 hours. The NEAR token dropped more than 9% after the event, and Bitwise’s newly launched NRR ETF fell 6.4%.
MiCA review fuels petitions and regulator probes in Europe
Pressure is rising in Europe over stablecoin rules as part of the Markets in Crypto-Assets (MiCA) review. Campaigners from Stand With Crypto EU said more than 50,000 Europeans urged the European Commission to relax restrictions on stablecoin rewards; a separate petition collected over 126,000 signatures. These advocacy efforts accompany scrutiny by several national regulators and ESMA into whether Binance is using a “reverse solicitation” exemption to serve EU clients without a full MiCA license, following the exchange’s withdrawal of its Greek application in June. Binance responded by saying it complies with applicable regulatory requirements.
Trump-linked meme coin hosts third exclusive dinner amid criticism
The team behind the Official Trump (TRUMP) meme coin announced a third exclusive dinner for its top 185 holders on November 22, following similar events in 2025 and 2026. The announcement drew criticism from Public Citizen co-president Robert Weissman, who called the dinner an "unethical exploitation of the presidency," and from Senator Chris Coons, who labeled it "corruption." Public Citizen estimated that investors in Trump-linked crypto assets are down $4.7 billion since 2022. Despite the backlash, the token rose about 9% after the announcement.
What this means for the market
The day combined signs of renewed institutional confidence with reminders of persistent risks in crypto: operational vulnerabilities can move prices and damage sentiment quickly, while regulatory developments in Europe continue to create uncertainty for large service providers. Citi’s raised targets and projections for inflows highlight optimism among some institutional analysts, even as ETF flows exhibit short-term reversal and political controversies interact with token markets.