Citigroup raises 12-month bitcoin target to $113,000 as ETF inflows resume

Citigroup raised its 12-month bitcoin forecast from $82,000 to $113,000 and its ether forecast from $2,240 to $3,028, Reuters reported Thursday, citing a Wednesday note. The new targets are around 35% above bitcoin's current price and 12% above ether's current price. Citi expects slow but steady inflows into products such as exchange-traded funds as advisers and brokerages gradually increase bitcoin allocations. Citi forecasts $5 billion of inflows over the next 12 months. U.S. spot bitcoin ETFs had recorded year-to-date net outflows of $5.8 billion as of July 13. Those flows subsequently reversed, with net inflows for 2026 reaching $800 million as of late September. Bitcoin rose more than 10% after the Senate rejected the Clarity Act on September 15. Subsequent U.S. Securities and Exchange Commission announcements and Treasury bond buybacks helped ease negative sentiment and revive the broader cryptocurrency market. Citi said the SEC's subsequent rule announcements dampened negative sentiment despite the Senate's failure to advance the Clarity Act.