Citi Reverses Course, Sees $113,000 Bitcoin Price Target

Citigroup, one of the largest banks in the US, has revised its 12-month Bitcoin price target to $113,000, up from $82,000. This change comes just two months after the bank cut its target from $112,000 to $82,000. The new target is roughly in line with the bank's previous estimate, which was set before the July revision.

The upgrade is significant because it reflects Citi's shifting view on the macroeconomic and regulatory environment. The bank cites concerns about currency debasement and a soft dollar as key factors behind its revised target. US Treasury bond buybacks have also contributed to the dollar's decline, making Bitcoin more attractive to investors.

Citi also upgraded its 12-month target for Ether to $3,028, up from $2,240. The bank forecasts $5 billion in crypto inflows over the next 12 months, with financial advisors and brokerages expanding their crypto allocations. This growth is expected to be gradual, with ETF inflows estimated to have turned slightly positive by late September 2026, totaling around $800 million.

The bank's revised target and forecast are notable, given the recent legislative setback for the industry. The Senate's failure to advance the Clarity Act was seen as a negative development, but SEC rulemaking has since given market sentiment a lift.