Citigroup Lifts Crypto Targets Amid Resurgent Markets

Citigroup has raised its 12-month price targets for Bitcoin and Ether in response to stronger crypto activity and a supportive macroeconomic backdrop.

The brokerage increased its target for Bitcoin to $113,000 from $82,000 and for Ether to $3,028 from $2,240. This move comes as crypto inflows are expected to resume at a slower but steadier pace, with Citigroup forecasting $5 billion of inflows over the next 12 months.

The US Senate's failure to advance The Clarity Act, which aimed to create a regulatory framework for digital assets, has narrowed the path to a market-structure bill. However, this setback may have spurred Securities and Exchange Commission (SEC) rule announcements that dampened negative sentiment.