Citigroup Boosts Bitcoin Price Target to $113,000 Amid Strong Quarterly Gains

Citigroup's Alex Saunders has upgraded his Bitcoin (BTC) price target to $113,000, marking a significant increase from his previous estimate of $82,000.

The upgrade comes as BTC delivered its most impressive quarterly gains since 2024, outperforming gold despite headwinds from rising Treasury rates and increasing commodity valuations.

According to Bull Theory data, both BTC and ETH reached their peak monthly closes for 2026, with BTC surging +$25,800 and 44% in the past three months, delivering the best Q3 returns since 2017.

Citigroup anticipates approximately $5 billion in ETF inflows throughout the coming year under its baseline scenario, which is a notable departure from earlier projections that anticipated stagnant flows.