Citi Raises Bitcoin Target to $113,000 Amid Erosion Fears

Citi analysts have increased their 12-month target price for Bitcoin to $113,000 from $82,000, citing renewed investor concern about government deficits eroding the value of fiat currencies and regulatory clarity.

According to the analysts, the failure of the Clarity Act, which spurred agency rulemaking, helped crypto regain technical levels. They also note that ETF inflows should be relatively sticky and consistent as investors gradually adopt Bitcoin into their portfolios.

Meanwhile, RBC Capital Markets has lowered Banco Santander's net interest income and fees forecasts for 2028, citing a fall in Chilean net interest income, lower revenue, and higher costs in the rest of the group. RBC has reduced its target price on the stock to 13.25 euros from 13.50 previously, but reiterates its outperform recommendation.

Other financial institutions have also been subject to analyst scrutiny, with UBS' Ignacio Cerezo and Alvaro Fernandez-Garayzabal noting that CaixaBank faces a near-term headwind to net interest income, which should be temporary, while artificial intelligence disruption will be a gradual process.