CoinDesk
Citigroup raised its 12-month Bitcoin forecast to $113,000 from $82,000 and its Ether forecast to $3,028 from $2,240. The bank cited renewed exchange-traded fund inflows and favorable economic conditions. It expects cryptocurrency investment products to draw $5 billion over the next year as advisers and brokerages gradually increase Bitcoin allocations.
Why it matters
Citi's outlook rests on a sustained recovery in investment-product flows, not a single burst of buying. U.S. spot Bitcoin ETFs had recorded $5.8 billion in year-to-date net outflows as of July 13, but the balance had turned to $800 million in net inflows for 2026 by late September. The reversal gives the bank a concrete basis for its forecast of further allocations.
The bank also pointed to a shift in sentiment after the Senate rejected the Clarity Act on Sept. 15. Subsequent SEC rule announcements helped dampen the negative reaction, Citi said. U.S. Treasury buybacks of longer-dated bonds also helped revive momentum across crypto after months in which the market trailed other risk assets.
Market impact
Bitcoin gained more than 10% between the Senate vote and the end of September, showing resilience despite the legislative setback. Citi's new 12-month targets imply roughly 35% upside for Bitcoin and 12% for Ether from prices cited in its report.
The next test for the forecast is whether ETF inflows persist as advisers and brokerages add exposure. Citi expects that process to be gradual; its $5 billion estimate covers investment products over the next 12 months, not an immediate surge in demand.
Frequently asked questions
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What is behind Citi's higher Bitcoin and Ether forecasts?
Citi cited renewed ETF inflows and favorable economic conditions when raising its 12-month targets for both assets.
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How much does Citi expect to flow into crypto investment products?
Citi forecasts $5 billion in inflows over the next 12 months as advisers and brokerages gradually increase Bitcoin allocations.
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How have U.S. spot Bitcoin ETF flows changed in 2026?
The funds had $5.8 billion in year-to-date net outflows as of July 13. By late September, that had reversed to $800 million in net inflows for 2026.
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How did Bitcoin perform after the Senate rejected the Clarity Act?
Bitcoin gained more than 10% between the Senate's Sept. 15 rejection and the end of September.
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What upside do Citi's new targets imply?
The $113,000 Bitcoin target implies roughly 35% upside, while the $3,028 Ether target implies about 12% upside from prices cited in Citi's report.
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