Citi Raises Bitcoin, Ether Forecasts Amid Resurgent Crypto Activity

Citigroup has increased its price targets for Bitcoin and Ether, citing stronger crypto activity and a supportive macroeconomic backdrop.

The brokerage raised its target for Bitcoin to $113,000 from $82,000 and for Ether to $3,028 from $2,240, according to a note dated Wednesday. This represents a significant increase of 38% and 35%, respectively.

Citi expects crypto inflows to resume at a slower but steadier pace as advisers and brokerages gradually increase allocations to Bitcoin. The brokerage forecast $5 billion of inflows over the next 12 months, which could have a positive impact on the market.