Citigroup Raises Bitcoin Target to $113K, Sees Ether Reaching $3,028
Citigroup has raised its 12-month Bitcoin target to $113,000 from $82,000, marking a more bullish outlook for the cryptocurrency. This move is part of Citigroup's revised forecast, which also sees Ether rising to $3,028.
The bank attributed the increase in targets to stronger crypto activity and improving macro conditions, as well as renewed ETF inflows. According to Citigroup, around $5 billion of crypto inflows are expected over the next 12 months, although this will happen at a slower but steadier pace than previous buying waves.
The new targets suggest that Bitcoin still has room for growth, given its current price of $83,773. To reach Citigroup's target, Bitcoin would need to gain approximately 34.8%. Ether, currently trading around $2,700, needs a 12.1% increase to hit the new target.
Citigroup also noted that historical trends may be on its side, with October often seeing a positive return for Bitcoin. The bank's revised outlook comes after a recent rebound of nearly 43% over the past three months and follows a failed CLARITY Act vote, which narrowed the path toward wider market-structure laws.