Citigroup has raised its 12-month Bitcoin price target from $82,000 to $113,000, saying renewed cryptocurrency demand and improving market sentiment could extend the digital asset’s recent recovery.
The investment bank also lifted its forecast for Ethereum, increasing its target for the second-largest cryptocurrency from $2,240 to $3,028.
Citigroup said demand for crypto-backed exchange-traded funds could provide a major lift, with inflows expected to reach $5 billion over the next year. It also pointed to the US Treasury’s decision to buy back longer-dated bonds and a weakening US dollar as factors likely to support digital assets.
Bitcoin price target raised after volatile year
Bitcoin has endured a largely stagnant or declining year. After reaching a high of $124,000 in October 2025, it fell to $58,000 in June.
The cryptocurrency began to regain momentum in mid-August, following the Treasury’s bond-buyback announcement. By September, it had moved above $80,000 for the first time in four months and has since traded at around that level.
Citigroup said a turnaround in flows into spot Bitcoin exchange-traded funds would add to upward pressure on the price. The funds recorded nearly $7 billion in outflows during May and June, but the trend began to reverse in July, with inflows exceeding $2 billion in September.
The bank said the Treasury announcement had also contributed to a weaker dollar, which could encourage investors to take greater risks in speculative assets such as cryptocurrencies.
Crypto markets have received further support from developments in the US regulatory environment. The Clarity Act, which would have established broad rules for the sector, failed to advance in the Senate in September, although Bitcoin performed more strongly than some had expected.
The Securities and Exchange Commission subsequently moved to use its existing powers to draw up industry rules during the remainder of the current administration. Citigroup said those steps had helped ease investor concerns.
