Citi Boosts Bitcoin Target to $113,000, Sees $5 Billion in Crypto Fund Inflows
Citi has raised its Bitcoin price target to $113,000, a 31% increase from the current price. This prediction is based on just $5 billion in new inflows into crypto funds over the year.
The bank's analyst, Alex Saunders, also raised the Ethereum target to $3,028, up from $2,240. For Bitcoin to reach Citi's $113,000 target, three conditions need to be met: price stability, positive ETF inflows, and regulatory consistency.
U.S. spot Bitcoin ETFs collected $2.4 billion in inflows through September 25, nearly half of Citi's annual inflow forecast. This target seems achievable, given the current market dynamics and regulatory environment.
However, Citi's targets have fluctuated significantly this year, with the bank initially projecting $143,000 and then lowering it to $82,000 in July. The current target of $113,000 suggests other factors may be driving Citi's predictions.
A 5.17% Treasury yield and potential post-2028 regulatory rollbacks could work against Citi's target. If the price dips back below $82,000, it could indicate that the demand Citi anticipates has not materialized.