Citi Raised Its Forecast for Bitcoin and Ethereum

Published: October 1, 2026 – 13:11 UTC

Citi raised its 12-month bitcoin forecast to $113,000, and Ethereum — to $3,028.
The bank expects a new wave of ETF inflows.
In addition, analysts cited factors that could drive further upside for the asset.

US financial corporation Citigroup has raised its 12-month price targets for bitcoin and Ethereum, citing a rebound in inflows into crypto ETFs and favorable macroeconomic conditions, CoinDesk reports.

In a new research note, Citi raised its forecast for the leading cryptocurrency from $82,000 to $113,000 compared with the level provided last month, and for the second-largest cryptocurrency by market cap — from $2,240 to $3,028, implying potential gains of about 35% and 12%, respectively, from current levels.

Citi Expects More Stable Inflows Into Crypto ETFs

Citi expects inflows into cryptocurrency-based products, including ETFs, to be “slower, but more sustainable.” According to the bank, advisers and brokerage firms will gradually increase bitcoin allocations in client portfolios, which could generate around $5 billion in net inflows over the next 12 months.

The current ETF market already shows a rebound in demand. As of July 13, US spot bitcoin ETFs had a combined net outflow of $5.8 billion year-to-date. However, the trend later reversed, and by the end of September, the cumulative 2026 result returned to positive territory.

The period from September 21 to 25 was particularly strong. According to SoSoValue, crypto ETFs attracted $3.4 billion, of which $2.39 billion went to US spot bitcoin ETFs. This is the sector’s best weekly result in 2026 and the largest inflow since October 2025.

Over the same period, Ethereum ETFs took in $689.88 million, and the strongest performance among individual funds came from BlackRock’s ETHA — $326.17 million. Among altcoin ETFs, Solana-based products led with $188.22 million, while XRP funds attracted $75.59 million.

Citi Called the Regulatory Situation a “Temporary Positive”

Citi analysts also pointed to regulatory factors. Although the US Senate on September 15 failed to advance the CLARITY Act, subsequent decisions by the US Securities and Exchange Commission, in the bank’s view, eased negative market sentiment.

Citi called these measures a “temporary but meaningful positive” and noted:

“At this stage of the electoral cycle stage, rulemaking clarity may substitute for a durable CLARITY Act.”

At the same time, the bank warned about the risk of a regulatory policy shift after the 2028 presidential election, although this factor is not included in the current 12-month forecast.

Despite the failed vote on the bill, bitcoin showed resilience: after September 15, its price rose by more than 10% by the end of the month. Overall, the asset finished September up about 6.5%, while Ethereum gained nearly 9%. Mid-month, bitcoin dipped below $75,000, but later climbed above $85,000, while Ethereum rose above $2,700.

Citi also linked the crypto market rebound to the US Treasury’s decision to buy back long-term government bonds. In the bank’s view, this operation helped restore momentum in the crypto market after several months in which digital assets lagged other risk assets.

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Source: Incrypted