Citi Lifts 12-Month Bitcoin Target to $113K, Ethereum to $3K - Decrypt

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In brief

  • Citigroup raised its 12-month Bitcoin target to $113,000 from $82,000, and its Ethereum target to $3,028 from $2,240.
  • It expects $5 billion of crypto inflows over the next year, at a slower but steadier pace.
  • The Bitcoin target sits about 10% below the record set in October 2025.

Citigroup has raised its 12-month price target for Bitcoin to $113,000 from $82,000, and for Ethereum to $3,028 from $2,240, citing stronger activity across crypto markets, a supportive macro backdrop and the return of ETF inflows, Reuters reported.

Both targets are increases of around 35% on the bank's previous numbers. Bitcoin is currently trading at around $83,900 and Ethereum at around $2,700, per CoinGecko data, implying roughly 35% upside for Bitcoin and 12% for Ethereum if the targets are met.

BitcoinBTC · USD
$83,718−0.68%
24H7D1M1YYTD
Sep 24Sep 26Sep 28Sep 29Oct 1
$85.3k$84.4k$83.5k$82.7k
24h HighHigh$85,518
24h LowLow$83,182
VolVol$1.3B
Market projectionsOdds by Myriad
Today$82,000 to $84,000$82k–$84k61% chanceThis weekBelow $84,000Below $84k54% chance

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The bank expects inflows to resume at a slower but steadier pace as advisers and brokerages gradually raise their allocations to Bitcoin, according to a note dated Wednesday, and forecasts $5 billion of them over the next 12 months.

Set against the past year, $5 billion would be a turnaround rather than a modest ask. Spot Bitcoin ETFs ended the twelve months to September with a small net outflow, according to SoSoValue, with six negative months in that span and $4.51 billion leaving in June alone. They have taken in $880 million across 2026 so far, against $21.37 billion in 2025. Whether Citi's figure covers spot Bitcoin ETFs alone or crypto products more broadly is not clear from the summary of the note.

The target itself is also short of a record. Bitcoin's all-time high of about $126,200 was set in October 2025, leaving Citi's $113,000 some 10% below the peak even if the call proves right.

On regulation, the bank said the Clarity Act's failure in the Senate last month had "narrowed the path to a market-structure bill," while prompting Securities and Exchange Commission rule announcements that took the edge off negative sentiment.

Myriad: When will Bitcoin hit a new all-time high? Click to make your prediction.

The rally behind the upgrade has been sharp. Bitcoin and Ethereum have gained close to 40% and 68% respectively over the past three months, cutting their losses for the year to roughly 4% and 9%, Citi noted.

Spot Bitcoin ETFs have since taken money in for nine straight sessions, about $3.08 billion from September 17, narrowly beating August's nine-day run. The week to September 25 drew $2.4 billion, the funds' biggest since October 2025, and pushed them back into positive territory for the year. Bitcoin's summer rebound dates to August 19, when the Treasury said it would double its longer-dated bond buybacks to at least $4 billion per operation.

Momentum has eased since. Daily inflows fell to $66 million on September 29, and Bitcoin rose above $85,000 after cooler-than-expected PCE data before settling back, leaving it roughly a third below its October 2025 record of $126,296.

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