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Citigroup Raises Bitcoin Price Target to $113,000 Amid Market Optimism
Citigroup has revised its 12-month Bitcoin price target to $113,000, an increase from its previous estimate of $82,000. This adjustment, announced on September 30, 2026, marks a significant turnaround for the bank, which had previously cut its forecast in July. At the time of the announcement, Bitcoin was trading between $83,900 and $84,100, indicating a potential upside of approximately 35% over the next year based on the new target.
In addition to Bitcoin, Citigroup also raised its target for Ether, the second-largest cryptocurrency, to $3,028 from $2,240, reflecting a similar 35% increase. The bank anticipates $5 billion in crypto inflows over the next 12 months, driven by financial advisors and brokerages gradually increasing their allocations to cryptocurrencies. This forecast comes as the market shows signs of recovery, particularly in exchange-traded funds (ETFs), which have seen estimated inflows of around $800 million after a challenging period.
The bank's shift in outlook is attributed to a combination of macroeconomic factors and regulatory developments. Concerns about currency debasement and the softening of the US dollar have contributed to a more favorable environment for cryptocurrencies. Although the Senate's failure to advance the Clarity Act posed a setback for the industry, recent SEC rulemaking has improved market sentiment, supporting Citigroup's revised forecasts.
Source: KLEA News