Citi Raises Bitcoin Target to $113,000 on ETF Inflows
Citigroup raised its 12-month Bitcoin (BTC) price target from $82,000 to $113,000 and increased its Ethereum (ETH) target from $2,240 to $3,028. The bank cited stronger crypto-market activity, improving macroeconomic conditions, a weaker US dollar and renewed US spot Bitcoin ETF inflows.
Citi expects crypto markets to attract about $5 billion in additional capital over the next 12 months. It forecasts slower but more consistent demand, supported by higher allocations from financial advisers, brokerages and other traditional investment channels. Spot Bitcoin ETFs recently recorded about $3.08 billion in inflows across nine consecutive sessions, while one week drew $2.4 billion, the strongest weekly inflow since October 2025.
With BTC near $83,700 on 1 October, Citi’s Bitcoin target implies about 35% upside. ETH near $2,687 offers roughly 13% potential upside to the bank’s target, showing a more bullish stance on Bitcoin than Ethereum. BTC has gained about 40% from its July low, while ETH has risen around 68%.
The outlook remains exposed to elevated US Treasury yields, persistent inflation, possible Federal Reserve tightening and regulatory uncertainty after the Clarity Act failed in the Senate. Traders should monitor Bitcoin ETF flows, institutional allocations, interest-rate expectations and long-term yields. The $113,000 Bitcoin forecast is supportive, but it does not guarantee a sustained bull market.
Bullish
Citi’s higher Bitcoin target and renewed spot Bitcoin ETF inflows are directly supportive of BTC demand. Sustained inflows from financial advisers, brokerages and institutional investors could provide a stronger and more durable bid than retail-driven speculation. The bank’s expectation of about $5 billion in crypto-market inflows also improves the medium-term demand outlook.
In the short term, the news may encourage traders to add long exposure to BTC and ETH, particularly while ETF inflows remain positive. Bitcoin has about 35% implied upside to Citi’s target, while Ethereum has about 13%, making BTC the stronger beneficiary of the report. However, price reactions could fade if ETF inflows slow or traders take profit after the recent rebound.
High Treasury yields, inflation, possible Federal Reserve tightening and regulatory uncertainty remain key risks. These factors could reduce demand for non-yielding assets and increase volatility. Overall, the combination of upgraded targets, institutional demand and improving flows supports a bullish classification, although the outlook is constructive rather than risk-free.