Citigroup Increases 12-Month Bitcoin Target to $113,000 as ETF Inflows Pick Up

Citigroup has updated its 12-month price forecast for bitcoin, increasing it to $113,000 from the previous $82,000, attributing this adjustment to a resurgence in exchange-traded fund (ETF) inflows and improving macroeconomic conditions.

Ether Price Target Also Increased

In tandem with the bitcoin revision, Citigroup has raised its ether price target to $3,028, up from $2,240, reflecting a positive shift in market dynamics.

• The new bitcoin price target indicates a 35% increase based on current valuations, while the ether forecast represents a 12% rise.
• The bank anticipates that cryptocurrency investment products will draw approximately $5 billion in the coming year as financial advisers and brokerages begin to increase their bitcoin allocations.
• Following the Senate’s rejection of the Clarity Act on September 15, bitcoin's price surged over 10%, aided by supportive announcements from the SEC and U.S. Treasury, which helped to revive the broader cryptocurrency market.

As of September 2026, bitcoin was trading at approximately $83,764.97, while ether was valued at around $2,690.68. Citigroup's updated forecasts reflect a renewed optimism in the market driven by ETF inflows and favorable economic indicators.

Despite earlier net outflows of $5.8 billion from U.S. spot bitcoin ETFs this year, the trend has reversed, with net inflows reaching $800 million by late September 2026. This change suggests a growing confidence among investors in the cryptocurrency sector.

Citigroup's analysis credits the recovery in the crypto market to the U.S. Treasury's recent bond buybacks, which have helped restore momentum after a prolonged period of underperformance relative to other risk assets.