Citi raises Bitcoin forecast to $113,000, Ether to $3,028

Citigroup has raised its 12-month price target for Bitcoin to $113,000 from $82,000, while increasing its forecast for Ether to $3,028 from $2,240, as cryptocurrency activity and investor demand show signs of strengthening.

The revised forecasts were outlined in a Citi note dated Wednesday and reported by Reuters on Oct. 1. The bank cited three main factors behind the changes: stronger activity across crypto markets, a more supportive macroeconomic environment and a resumption of inflows into crypto exchange-traded funds.

READ: Citi lowers Bitcoin and Ether outlook as crypto ETF inflows slow (July 1, 2026)

Citi expects cryptocurrency inflows to return at a slower but steadier pace as financial advisers and brokerages gradually increase their allocations to Bitcoin. The bank forecasts about $5 billion in crypto inflows over the next 12 months.

Bitcoin and Ether have also posted strong gains over the past three months. Reuters reported that Bitcoin had risen nearly 40%, while Ether had gained about 68%, narrowing their year-to-date losses to roughly 4% and 9%, respectively. Bitcoin had risen about 40% from its July low as a softer dollar helped revive momentum across cryptocurrency markets.