Citi Doubles Down on Bitcoin Target with $31,000 Price Hike

Citi has increased its 12-month Bitcoin target from $82,000 to $113,000. This represents a 38% increase and comes despite the market itself having barely moved.

The bank attributes this upgrade to three key changes: stronger crypto activity, renewed ETF demand, and a more supportive macro backdrop.

Citi expects about $5 billion of additional crypto inflows over the next year. The recent flow data supports this shift, although it has not been consistent.

Bitcoin has gained roughly 40% from its July low but still trades below the $87,000 area reached in September.