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Citigroup raised its 12-month Bitcoin price target to $113,000 from $82,000 and its Ether target to $3,028 from $2,240. The bank cited accelerating crypto market activity, a favorable macroeconomic environment and a return of ETF inflows.
Why it matters
Citi projects approximately $5 billion in net ETF inflows over the next 12 months. Its more bullish outlook comes despite a setback in Washington: the US Senate failed last week to advance the Clarity Act, narrowing the path to a comprehensive crypto market structure law. Citi said subsequent SEC regulatory clarifications helped curb negative sentiment.
Market impact
Bitcoin has rebounded nearly 40% and Ether nearly 68% over the past three months. Citi linked renewed momentum in digital assets to recent US Treasury buybacks of longer-dated bonds, which weakened the dollar. The bank's higher targets rest in part on its projected ETF inflows materializing over the coming year.
Frequently asked questions
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How much did Citi raise its 12-month Bitcoin and Ether targets?
Citi lifted its Bitcoin target to $113,000 from $82,000 and its Ether target to $3,028 from $2,240.
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How much does Citi expect in ETF inflows over the next year?
The bank projects approximately $5 billion in net ETF inflows over the next 12 months.
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Why did Citi turn more bullish on Bitcoin and Ether?
Citi cited accelerating crypto market activity, a favorable macroeconomic environment and a return of ETF inflows.
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How does the Clarity Act setback affect Citi's outlook?
The Senate's failure to advance the bill narrowed the path to a comprehensive market structure law. Citi said subsequent SEC clarifications helped curb negative sentiment.
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What recent market moves did Citi cite alongside its new targets?
Bitcoin rebounded nearly 40% and Ether nearly 68% over three months. Citi also linked renewed digital-asset momentum to Treasury buybacks of longer-dated bonds that weakened the dollar.
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