Bitcoin Already Passed Citi's Old $82,000 Target. Meet the New One

Citigroup raised its 12-month Bitcoin price target to $113,000 from $82,000, arguing that spot Bitcoin ETF buyers will keep returning. The bank lifted its Ethereum forecast to $3,028 as well, but noted that fund flows turned against the view the same day. On September 30—the date of Citi’s note—U.S. spot Bitcoin ETFs shed $148.69 million. Citi analyst Alex Saunders linked the revision to improvements across activity, macro factors and ETF flows, including reduced concerns after SEC-related rulemaking activity following the failed Clarity Act. Citi now expects $5 billion of inflows over 12 months, while BTC traded around $84,591 at press time.