Citigroup Boosts Bitcoin Target to $113,000 on ETF Inflow Rebound

Citigroup has significantly raised its price target for Bitcoin to $113,000, citing improved exchange-traded fund inflows and a more favorable macroeconomic backdrop. The Wall Street bank increased its forecast from a previous target of $82,000, with Ether's projection rising to $3,028 from $2,240.

The revised targets imply upside of around 35% for Bitcoin and 12% for Ether at current prices. Citi points to the resumption of ETF inflows and supportive economic conditions as key drivers behind its more bullish stance.

The bank expects crypto investment products to attract approximately $5 billion over the next 12 months, with investment advisers and brokerages gradually increasing their Bitcoin allocations. The flow picture has improved since mid-summer, with U.S. spot Bitcoin ETFs recording net inflows of $800 million in September after year-to-date net outflows of $5.8 billion as of July 13.