Citi Forecasts Bitcoin at $113,000 and Ether at $3,028 Over…
By Karthik Subramanian
AI summary of the source article
Citi has released 12-month price targets of $113,000 for Bitcoin and $3,028 for Ether, forecasting greater upside for Bitcoin from prevailing levels. The bank attributes its constructive Bitcoin outlook to expanding institutional adoption, spot ETF demand, and a fixed supply tightened by the April 2024 halving. Conversely, Citi's more modest target for Ether stems from less consistent ETF flows and uncertainty over how blockchain activity across decentralized finance and layer-two networks translates directly into ETH token value. Both forecasts remain contingent on broader macroeconomic conditions and overall crypto market volatility.
Why it matters
The targets illustrate how institutional ETF adoption and supply mechanics are creating distinct valuation frameworks and performance expectations for the two largest crypto assets.
Key facts
- Citi set 12-month price targets of $113,000 for Bitcoin and $3,028 for Ether.
- U.S. spot Bitcoin ETFs recorded approximately $2.39 billion of inflows from September 21-25 before an outflow of $148.7 million on September 30.
- Bitcoin's block issuance dropped from 6.25 BTC to 3.125 BTC following the April 2024 halving toward its 21 million maximum supply.