Citigroup Sees $113,000 Bitcoin Price Amid Renewed Crypto Interest

Citigroup has raised its one-year Bitcoin price forecast to $113,000 from $82,000.

This increased target is part of a broader optimism about the cryptocurrency market. Ethereum's price target was also raised by Citigroup to $3,028 from $2,240.

The investment bank attributes the upward pressure on Bitcoin and other cryptocurrencies to renewed interest in digital assets and more favorable market sentiment.

Citigroup notes that demand for crypto-backed exchange-traded funds will drive price growth, with inflows reaching $5 billion over the next year.