Citigroup raised its 12-month Bitcoin price target to $113,000 from $82,000 and its Ethereum target to $3,028 from $2,240, according to a note dated Wednesday. Both represent increases of roughly 35% from the bank's previous targets.
The upgrades reflect stronger activity across crypto markets, a supportive macroeconomic backdrop, and the resumption of exchange-traded fund inflows, the bank said. At current prices around $83,900 for Bitcoin and $2,700 for Ethereum, the targets imply approximately 35% upside for Bitcoin and 12% for Ethereum if achieved.
Citigroup expects $5 billion in crypto inflows over the next 12 months, though at a slower and steadier pace than previous years. The forecast reflects a gradual increase in allocations by advisers and brokerages. This projection contrasts with recent trends: spot Bitcoin ETFs experienced net outflows over the twelve months ending in September, with $4.51 billion leaving in June alone. However, the funds have attracted $880 million across 2026 to date and have recorded inflows for nine consecutive sessions as of late September.
Bitcoin and Ethereum have gained approximately 40% and 68% respectively over the past three months, though both remain negative for the year at roughly 4% and 9% respectively. The rally has been sharp but momentum has eased recently.
Citigroup's $113,000 target sits about 10% below Bitcoin's all-time high of approximately $126,200, set in October 2025. On the regulatory front, the bank noted that the Clarity Act's failure in the Senate narrowed the path to a market-structure bill, though Securities and Exchange Commission rule announcements provided some offset to negative sentiment.
