Citigroup Lifts Bitcoin Price Target to $113,000 on ETF Inflows and Macro Tailwinds

Citigroup has raised its 12-month price target for Bitcoin to $113,000 from $82,000, citing renewed exchange-traded fund (ETF) inflows and a more favorable macroeconomic environment. The bank also boosted its forecast for Ether to $3,028 from $2,240.

The revised targets imply an upside of around 35% for Bitcoin and 12% for Ether. Citi analysts expect crypto investment products to attract $5 billion in inflows over the next 12 months, driven by investment advisers and brokerages gradually increasing their Bitcoin allocations.

The pace of accumulation is expected to be slower but steadier, with Citi's base case assuming a measured build-up of institutional positions. This is less forceful than a forecast premised on an immediate surge in allocations.

The upgrade from Citigroup comes as institutional engagement with digital assets deepens, despite the regulatory landscape remaining unsettled. The bank's analysts appear to be betting that the combination of resuming ETF flows, a friendlier macro environment, and incremental rule-making from the SEC will sustain the recovery.