Citi Sees Bitcoin Soaring to $113,000 on Stronger Activity and Macro Conditions

Citi has raised its 12-month Bitcoin forecast to $113,000 from $82,000, citing stronger crypto activity and improving macro conditions.

The bank also pointed to renewed spot ETF inflows and broader adoption as key factors supporting the upgrade.

Bitcoin recently traded near $85,380 after softer U.S. inflation data reduced immediate fears of another Federal Reserve rate hike.

The first major test for bulls is the technical resistance zone at $85,000-$87,000, with a convincing close above $87,000 likely to put $90,000 and a run toward $100,000 back in focus.