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Citigroup Dials Up Bitcoin Price Target to $113,000

Guavy AI Editorial Team
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BTC
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Citigroup raised its Bitcoin (BTC) price target to $113,000 from $82,000, citing improvement in all tracked components. The bank's analyst Alex Saunders attributed the revision to better activity, macroeconomic conditions, and ETF flows.

The latest upgrade comes as fund flows have turned against Citigroup's bet on continued ETF inflows. On September 30, US spot Bitcoin ETFs shed $148.69 million, the same day Citi released its note.

Citigroup now expects $5 billion in ETF inflows over 12 months, a significant increase from its June estimate of zero inflows. Saunders pointed to charts showing that ETF inflows resumed as prices broke above their 200-day moving averages.

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