Citi Doubles Bitcoin Price Target to $113,000 Amid Crypto Resurgence

Citi has raised its 12-month Bitcoin price target to $113,000, up from $82,000. This increased forecast reflects renewed interest in cryptocurrencies and more favorable market sentiment.

The bank's higher forecast comes as crypto activity has strengthened, ETF inflows have resumed, and market conditions have become more favorable.

Citi expects $5 billion in crypto investment product inflows over the next 12 months. The bank believes advisers and brokerages will gradually increase their allocations to crypto investment products.