Citigroup Boosts Crypto Price Targets to $113K for Bitcoin and $3K for Ethereum

Citigroup has raised its price targets for Bitcoin and Ethereum, expecting stronger activity in crypto markets and a supportive macro backdrop. The bank now predicts Bitcoin will reach $113,000 within the next year, up from an earlier target of $82,000. This represents a 35% increase over the previous estimate.

Ethereum's price target has also been increased to $3,028, up 35% from the previous estimate of $2,240. These targets imply a potential upside of around 35% for Bitcoin and 12% for Ethereum if they are met.

Citigroup expects inflows to resume at a slower but steadier pace over the next year, with $5 billion in predicted crypto investments. This would be a significant turnaround from last year's net outflows, which totalled $4.51 billion in June alone.