Citi Raises BTC Target to $113,000 Amid $5 Billion Crypto Fund Inflows Forecast

Citi, a major financial institution, has raised its 12-month Bitcoin target to $113,000, representing a 37.8% increase from previous forecasts. This prediction is based on favorable market activity, macroeconomic trends, and the growing adoption of cryptocurrency investment products. According to Citi, advisor allocations are expected to drive $5 billion in crypto fund inflows over the next 12 months.

In a separate development, NEAR Intents disclosed a $3.8 million exploit, which occurred due to a bug in its Omni deposit and withdrawal infrastructure. The incident did not affect the NEAR network or token itself, but rather the company's smart contract. NEAR's narrative remains intact despite this incident.

Another notable event is the launch of a NEAR ETF by Bitwise, which provides spot exposure to the token alongside staking rewards of roughly 5%. This development is seen as a bullish catalyst for the NEAR ecosystem.

Zano, a blockchain platform, rewound its chain by 30 days after discovering more than $200 million in illicit token minting. This action is considered a significant security measure to protect the integrity of the network.