Crypto
Citi Lifts Crypto Price Forecasts as Wall Street Buys In
Citi has increased its price forecasts for Bitcoin and Ethereum, following a rebound in cryptocurrency markets since July. The bank raised its 12-month target for Bitcoin to $113,000 from $82,000, while its Ether forecast is now $3,028 from $2,240.
The price increases imply around 35% upside for Bitcoin and about 12% for Ethereum. However, the rally still faces challenges such as high bond yields, inconsistent exchange-traded fund demand, and unresolved US regulation.
Citi expects approximately $5 billion in net crypto inflows over the next 12 months, driven by advisers and brokerages gradually increasing allocations. This is a reversal of the bank's more cautious July view, which assumed no fresh ETF demand.