Crypto
Citi Lifts Bitcoin Price Target to $113,000 Amid Macro Improvements
Citi has raised its price target for Bitcoin to $113,000 and Ethereum to $3,028. Analyst Alex Saunders cites improving macro conditions and reduced regulatory uncertainty as key drivers of this upward revision.
The report marks a significant shift from Citi's previous assessment in June, when it slashed its 12-month ETF inflow forecast from $10 billion to zero and cut its Bitcoin price target by nearly $30,000. Today, Citi expects $5 billion in capital inflows over the next 12 months.
However, short-term demand is showing signs of weakness, with spot Bitcoin ETF IBIT.US recording net outflows of $148.69 million on September 30 and actual spot demand declining by 170,000 BTC over the past 30 days.