Citi Moves Its Bitcoin Target From $82,000 to $113,000…
By Abdelaziz Fathi
AI summary of the source article
Citi has upgraded its 12-month price targets to $113,000 for Bitcoin and $3,028 for Ether, reversing previous caution amid renewed institutional inflows into U.S. spot crypto ETFs. The bank anticipates crypto investment products will capture an additional $5 billion over the next 12 months as advisers and brokerages gradually build positions. Citi also noted that subsequent SEC rule announcements helped ease regulatory sentiment following the Senate's failure to advance the CLARITY Act, alongside support from U.S. Treasury bond buybacks and a softer dollar. However, the bank emphasized that these revised targets depend on sustained liquidity and allocations rather than guaranteed price increases.
Why it matters
The updated targets reflect growing institutional adoption, with Citi predicting sustained ETF allocations from brokerages and advisers will serve as the primary driver for cryptocurrency market valuations.
Key facts
- Citi raised its 12-month Bitcoin price target to $113,000 and its Ether target to $3,028.
- The bank projects crypto investment products will attract an additional $5 billion over the next 12 months.
- U.S. spot Bitcoin ETFs reversed earlier net outflows, reaching roughly $800 million of net inflows by late September.