Citi Boosts Bitcoin Forecast to $113K Amid ETF Demand Surge

Citi has revised its Bitcoin forecast to $113,000 and Ether target to $3,028 as demand for cryptocurrency exchange-traded funds (ETFs) has picked up and crypto markets have recovered from their midyear slump.

The bank attributed the change in its outlook to a more supportive macroeconomic backdrop, including Treasury bond buybacks, which contributed to a softer dollar and helped revive momentum across crypto markets. Additionally, ETF demand has increased, with U.S. spot Bitcoin ETFs recording $2.39 billion in inflows during the Sept. 21-25 trading week.

Citi's new forecasts remain below its earlier targets of $143,000 for Bitcoin and $4,304 for Ether. The bank expects advisers and brokerages to support approximately $5 billion in inflows over the next year as allocations rise gradually.