Citi Sees Bitcoin Reaching $113K, Ups Ethereum Target to $3,028
Citi has revised its Bitcoin price target to $113,000, up from $82,000, representing a 38% increase. This new target reverses two previous cuts made by the firm in 2026. The price target for Ethereum has also been raised to $3,028 from $2,240. This change reflects Citi's expectation of stronger crypto market activity, a more supportive macroeconomic backdrop, and a resumption of exchange-traded fund inflows.
The firm anticipates roughly $5 billion of inflows over the next 12 months for spot U.S. BTC ETFs. This is driven by gradually increasing allocations from advisers and brokerages, rather than a sudden return to the market. Bitcoin and Ethereum have rallied nearly 40% and 68%, respectively, over the past three months, narrowing their year-to-date losses to roughly 4% and 9%.
Citi's updated targets depend heavily on institutional demand returning to crypto ETFs. The firm's previous cuts reflected weak ETF demand and concerns that digital-asset treasury companies could become net sellers. The new $113,000 target remains below Bitcoin's October 2025 record above $126,000.