Citigroup Lifts Bitcoin Price Target to $113,000 on Stronger Market Activity

Citigroup has raised its Bitcoin price target to $113,000 within the next 12 months. This new forecast is based on stronger crypto market activity, a supportive macroeconomic backdrop, and an expected resumption of exchange-traded fund inflows.

The bank expects $5 billion in ETF inflows over the next year, which could help drive Bitcoin prices towards its target. This assumption marks a change from July, when Citigroup cut its 12-month Bitcoin target to $82,000 due to negative fund flows and stalled U.S. legislation.

Citigroup's new forecast also takes into account the recent recovery in digital assets, with Bitcoin currently trading near $84,100, about 35% below the bank's target price.