Citi Lifts Bitcoin Price Target to $113,000 Amid Stronger Market Activity

Citi has increased its 12-month price target for Bitcoin to $113,000, up from $82,000. This revised forecast reflects stronger crypto market activity and a friendlier macro backdrop, as well as the expectation that institutional money will continue to flow into digital assets.

The bank anticipates $5 billion of crypto inflows over the next 12 months, but emphasizes that these flows will be gradual rather than sudden. This measured pace of allocations is key to Citi's bullish case for Bitcoin, which remains the center of attention in this revised outlook.

Citi also raised its 12-month target for Ether to $3,028 from $2,240. The bank notes that regulatory setbacks and macro factors have both influenced its forecast, but that recent SEC announcements have helped dampen negative sentiment.