Citi Moves Its Bitcoin Target From $82,000 to $113,000…

Citi has raised its 12-month Bitcoin target to $113,000 from $82,000 and lifted its Ether target to $3,028 from $2,240, reversing part of the caution it adopted earlier this year as money returns to U.S. spot crypto ETFs.Bitcoin was trading around $84,300 at the latest check Thursday, after briefly topping $85,500 on Wednesday following softer-than-expected U.S. PCE inflation data. At that price, Citi's new Bitcoin target implies roughly 34% upside. Ether was near $2,683, putting the bank's $3,028 target about 13% above spot.CoinDesk had put the implied gains at about 35% for Bitcoin and 12% for Ether when it reported Citi's note earlier Thursday.

Why Citi Changed Its Bitcoin Price Prediction

The biggest change is fund flows.U.S. spot Bitcoin ETFs had accumulated $5.8 billion of net outflows for 2026 by July 13, according to figures cited by Citi. By late September, that deficit had been erased and replaced by roughly $800 million of net inflows.Citi now expects crypto investment products to attract another $5 billion over the next 12 months as advisers and brokerages gradually increase allocations to Bitcoin. The bank described the expected demand as "slower but stickier," implying a steadier institutional bid rather than the more volatile bursts that have characterized ETF flows this year.FinanceFeeds tracked that reversal last week, when U.S. spot Bitcoin ETFs attracted $2.39 billion across September 21-25, their strongest week in nearly a year.The latest daily number is less bullish. FinanceFeeds reported Thursday that Bitcoin ETFs lost $148.7 million on September 30, ending a nine-session inflow streak. That does not erase the preceding inflows, but it shows why Citi's thesis depends on sustained allocations over months rather than every session remaining positive.

Citi Says Regulation Also Helped Sentiment

Citi also links its higher targets to what happened after the Senate failed to advance the CLARITY Act on September 15.According to the bank, Bitcoin gained more than 10% between that vote and the end of September. Citi said subsequent SEC rule announcements reduced some of the negative regulatory sentiment created by the bill's failure, while U.S. Treasury buybacks of longer-dated bonds and a softer dollar helped revive appetite for crypto and other risk assets.Those are Citi's explanations for the market move, not established single-cause explanations.Bitcoin's third quarter was already unusually strong. FinanceFeeds calculated ahead of the final close that Bitcoin had gained about 42% from July 1 after falling in both the first and second quarters.

ETF Flows Are Now the Key Variable in Citi's $113,000 Target

The new call therefore rests less on a sudden change in Bitcoin's underlying technology than on demand and liquidity.Citi expects advisers and brokerages to keep adding exposure through regulated investment products, but at a slower and more durable pace. If those flows materialize, the bank sees Bitcoin reaching $113,000 over the next 12 months and Ether reaching $3,028.The targets remain forecasts, not price guarantees. Bitcoin is still trading inside the roughly $82,000-$85,000 range that has contained it around the quarter-end, despite Wednesday's brief inflation-driven breakout.For investors, the next test of Citi's upgraded Bitcoin price prediction is straightforward: whether September's ETF recovery becomes the persistent allocation trend the bank expects, or whether the September 30 outflow turns into another reversal.