Bitcoin Breaks Above $86,000 as Citi Lifts 12-Month Target to $113,000
Bitcoin began October trading near $86,000, up over 2% in 24 hours, after softer US inflation data and renewed spot ETF inflows boosted its rebound. Citi raised its 12-month target to $113,000 from $82,000, citing stronger crypto activity and ETF demand.
The token initially pushed toward the $85,000-$85,600 area following cooler inflation figures, but its advance stalled as Treasury yields climbed. This sensitivity to macro signals underscores how risk assets can quickly respond to changes in interest rates and inflation expectations.
Institutional demand provided a counterbalance to this volatility. US spot Bitcoin ETFs drew roughly $102.7 million of net inflows on October 1, while total liquidations across crypto derivatives eased to around $35 million, suggesting that leverage-driven selling has cooled from earlier peaks.