Crypto
Bitcoin Rebounds to $86K Ahead of Jobs Report as Citi Raises Price Target
The cryptocurrency market saw a rebound in Bitcoin's price to $86K on Friday, ahead of the US jobs report. This move came after Treasury yields pulled back, giving risk assets some relief.
Michael Saylor-backed Strategy (MSTR) saw its price target raised by Citi from $136 to $240, while maintaining a 'Buy' rating. MSTR stock rose around 3% in pre-market trade.
Solana (SOL) and Ripple's XRP (XRP) outpaced Bitcoin with gains of over 3% each in the last 24 hours. Ethereum (ETH) rose around 2.2%, recuperating to over $2,700.
Citi raised its 12-month Bitcoin target to $113,000 from $82,000 and lifted its Ethereum target to $3,028 from $2,240. The firm cited stronger crypto activity, improving macro conditions and renewed ETF inflows.