Citi Boosts Bitcoin Price Target to $113K Amid ETF Inflows

Citigroup has revised its Bitcoin price target to $113,000 from $82,000, citing renewed demand and improved market conditions. The bank's new forecast is about 35% above the current price of around $84,000.

The upgrade follows a period of increased ETF inflows, with U.S. spot Bitcoin ETFs seeing net inflows of over $2 billion between September 21 and 25. BlackRock's IBIT and Fidelity's FBTC also reported significant inflows during this time.

Citi notes that the improved macro environment and greater regulatory clarity have contributed to the increased demand for Bitcoin. The bank expects institutional participation to remain a key driver of growth, with around $5 billion expected to flow into crypto over the next 12 months.