Citi Doubles Down on Bitcoin Price Target Hike to $113,000
Citigroup has raised its price target for Bitcoin to $113,000, citing an improving macro environment and increased inflows into ETFs. The bank's revised forecast is a significant increase from its previous target of $82,000.
The price target hike comes as institutional sentiment towards crypto assets continues to strengthen. According to Woofun AI's compiled data, Citigroup expects ETFs to attract $5 billion in inflows over the next 12 months, driven primarily by investment advisors and brokerage firms gradually increasing their holdings.
Despite policy uncertainty, which has not entirely dampened market resilience, Bitcoin's monthly gains have still exceeded 10%. The U.S. Treasury's repurchase of long-term bonds has also provided support to the market and helped it shake off its underperformance relative to other risk assets.