Citi Boosts Bitcoin Price Target to $113K Amid Regulatory Shift

Citigroup has raised its price targets for Bitcoin and Ether, citing improved investor sentiment driven by regulatory developments and market trends.

The bank increased its 12-month target for Bitcoin to $113,000 from $82,000, a gain of about 38%, while its target for Ether rose to $3,028 from $2,240, up around 35%.

Citigroup expects institutional investors to gradually increase their Bitcoin allocations, leading to around $5 billion in capital inflows over the next year.

The bank attributed the improved sentiment to several factors, including the failure of the Clarity Act to pass the US Senate, which prompted the Securities and Exchange Commission to move more directly on rulemaking.