Citigroup has increased its 12-month Bitcoin price target to $113,000. The bank points to stronger crypto market activity, a positive economic environment, and the likely return of exchange-traded fund inflows as reasons for the change. Citi expects about $5 billion in Bitcoin ETF inflows over the next year as advisers and brokerages slowly raise their allocations.
On October 1, Bitcoin was trading near $84,100, so Citi’s new target is about 35% higher than the market price at that time. This new outlook is a shift from the bank’s more cautious stance earlier this year.
In a research note shared by Reuters, Citigroup said it expects crypto investment flows to come back more slowly but steadily. Instead of a sudden surge of institutional money, the bank thinks advisers and brokerages will slowly increase their exposure to Bitcoin.
Citi’s prediction of $5 billion in ETF inflows is a big change from its July outlook. Back then, the bank lowered its 12-month Bitcoin target to $82,000 from $112,000 and dropped its expected ETF inflow estimate to zero from $10 billion.
The earlier forecast was due to weak fund flows and delays in U.S. crypto laws. The latest report takes a more positive view of the market, although Citi is still not expecting demand to return immediately to the levels seen during stronger periods.
JUST IN: 🇺🇸 $2.8 trillion Citi predicts Bitcoin will reach $113,000 by next year.
— Watcher.Guru (@WatcherGuru) October 1, 2026
The bank also raised its Ether price target, moving it from $2,240 to $3,028. Citi linked both revisions to improving market activity and broader macroeconomic conditions.
Bitcoin and Ether have both recovered significantly over the past three months. Bitcoin gained around 40%, while Ether rose about 68%, according to figures cited by Reuters. Their year-to-date losses had narrowed to around 4% and 9%, respectively.
Citi also pointed to a softer U.S. dollar as one factor supporting the crypto market. The bank linked the weaker dollar to the U.S. Treasury’s recent decision to buy back longer-dated bonds, which helped improve sentiment across risk assets.
The regulatory environment has also changed. The U.S. Senate failed to advance the Clarity Act last month, reducing the immediate prospects for comprehensive crypto market-structure legislation. However, Citi said subsequent announcements from the Securities and Exchange Commission helped reduce some of the negative sentiment surrounding the setback.
Bitcoin’s recovery has not been completely smooth. The cryptocurrency moved above $87,000 in late September before falling back towards the low $83,000s around the start of October. Several sessions also recorded more than $2 billion in ETF inflows.
Even with the recent recovery, Bitcoin remained below its October 2025 peak of around $126,000. Citi’s new $113,000 target therefore remains below the previous record level.
The bank’s changing forecasts also show how closely its Bitcoin outlook has been tied to ETF flows and regulatory developments. Citi moved from a more optimistic view in March, to a sharply reduced target in July, and now back to a higher target based on an expectation of modest positive inflows.
The $5 billion inflow assumption is considerably smaller than the very large weekly and multi-week inflows seen during stronger periods. Citi expects the market to develop at a slower and steadier pace instead.
Whether Bitcoin reaches the $113,000 level will depend on factors including actual ETF inflows and the broader economic environment. Citi presented the figure as a 12-month forecast based on those conditions rather than as an immediate price prediction.
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