Citi Raises Bitcoin and Ether Targets on Renewed Demand

Citigroup raised its 12-month price targets for Bitcoin and Ether, saying stronger crypto activity, renewed exchange-traded fund demand and a more supportive macroeconomic backdrop had improved its outlook. The bank lifted its Bitcoin target to $113,000 from $82,000 and its Ether target to $3,028 from $2,240 in a note dated September 30. Citi also forecast $5 billion in crypto inflows over the next 12 months. It expects advisers and brokerages to increase Bitcoin allocations gradually, producing a slower but steadier flow of investment. The forecast is a projection, not a guarantee that the money will enter the market or that prices will reach the bank’s targets. The bank’s reassessment follows a period of weaker fund demand. In July, Citi had reduced its Bitcoin target to $82,000 as exchange-traded fund inflows weakened. The latest note cited a return of demand through funds alongside stronger crypto activity and improving market conditions.