Citi raises Bitcoin forecast to $113,000, Ether to $3,028

### Citi Raises Bitcoin Target to $113,000 and Ether Forecast to $3,028

Citigroup has raised its 12-month price target for Bitcoin to $113,000 from $82,000 and increased its forecast for Ether to $3,028 from $2,240, citing stronger cryptocurrency activity, improving macroeconomic conditions and renewed inflows into crypto exchange-traded funds.

The revised projections were detailed in a Citi note issued Wednesday and reported by Reuters on October 1. The bank said activity across digital-asset markets has strengthened, while changes in broader financial conditions have created a more supportive environment for cryptocurrencies.

Citi expects crypto investment flows to resume at a slower but more consistent pace over the coming year. The bank anticipates financial advisers and brokerages gradually increasing their allocations to Bitcoin and projects roughly $5 billion in cryptocurrency inflows over the next 12 months.

The updated outlook follows a strong rebound in the two largest cryptocurrencies. Reuters reported that Bitcoin had gained nearly 40% over the previous three months, while Ether had risen about 68%. Those gains reduced their year-to-date declines to approximately 4% for Bitcoin and 9% for Ether.

Bitcoin's recovery has also coincided with a weaker U.S. dollar, which has helped revive interest across risk assets, including digital currencies.

Citi's latest Bitcoin forecast marks a reversal from the more cautious projections it issued earlier in 2026. The bank began the year with a $143,000 12-month target before reducing it to $112,000 in March and then to $82,000 in July.

The July reduction came as demand for cryptocurrency ETFs weakened and concerns increased that companies holding digital assets on their balance sheets could potentially become sellers.

The latest upgrade comes despite continued uncertainty surrounding U.S. cryptocurrency regulation. The Senate recently failed to advance the Clarity Act, legislation intended to establish a regulatory framework for digital assets and provide greater clarity over the respective roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission.

Citi said the failure of the legislation reduced the immediate prospects for a broader market-structure law. However, the bank also pointed to subsequent Securities and Exchange Commission rule announcements as a factor that helped ease some of the negative sentiment surrounding the setback.

The bank further cited broader market conditions, including a softer dollar and renewed strength across risk assets, as factors supporting its revised cryptocurrency outlook.

Citi's forecast also reflects expectations that institutional participation in digital assets will continue to develop gradually rather than through a sudden surge in investment. The bank expects advisers and brokerages to play a growing role in directing capital toward Bitcoin-related investment products.

The revised targets nevertheless remain forecasts rather than guarantees. Cryptocurrency prices can be influenced by ETF flows, regulatory developments, monetary conditions, investor sentiment and broader financial-market movements.

Citi's latest projections therefore depend on continued activity in digital-asset markets and a sustained return of investment flows into cryptocurrency-related products.

The new targets represent a notable shift in the bank's outlook after several downward revisions earlier this year, highlighting how quickly expectations for the cryptocurrency market can change as market conditions and institutional demand evolve.