Citi Boosts Price Targets for Bitcoin and Ether Amid ETF Inflows

Citi has raised its price targets for Bitcoin and Ether, citing increased activity in the crypto market, a more favorable macroeconomic environment, and the return of ETF inflows.

The bank's revised 12-month target for Bitcoin is now $113,000, up from $82,000, while its target for Ether has risen to $3,028 from $2,240.

Citi attributes the increase in price targets to the return of ETF flows, which have seen significant inflows over the past month. US Bitcoin ETFs recorded $3.075 billion in inflows between September 17 and 29, with a notable $2.386 billion collected during the week of September 21-25.

The bank notes that its revised price targets do not necessarily reflect the actual prices that Bitcoin and Ether may reach, but rather represent Citi's estimates based on current market conditions and trends.