Citi Boosts Crypto Price Targets as Inflows Resume

Citi, a global bank, has increased its cryptocurrency price forecasts due to stronger activity and economic conditions. The bank's bitcoin target rose by approximately 38% to $113,000, while ether's forecast increased by about 35% to $3,028.

The bank's analyst, Alex Saunders, attributed the higher targets to three factors: stronger cryptocurrency activity, supportive macroeconomic conditions, and returning exchange-traded fund inflows. According to Saunders, 'The increase draws from all three components of our process: activity, macro, and ETF flows.'

September saw a recovery in demand for cryptocurrencies, with U.S. bitcoin funds attracting $2.39 billion in net inflows during the week ending September 25.