Citigroup Lifts Bitcoin Target to $113,000 on ETF Inflow Rebound

Citigroup has sharply raised its 12-month price outlook for bitcoin, projecting the world's largest cryptocurrency will climb to $113,000 as exchange-traded fund flows turn positive and the macroeconomic backdrop improves.

The Wall Street bank lifted its bitcoin forecast from a previous target of $82,000, while also boosting its ether projection to $3,028 from $2,240, according to a research note dated Wednesday. At current prices, the new targets imply upside of roughly 35% for bitcoin and 12% for ether.

The revision reflects a notable shift in institutional sentiment toward digital assets. Citi pointed to a resumption of ETF inflows and favorable economic conditions as key drivers behind the more bullish stance. The bank expects crypto investment products to attract approximately $5 billion over the next 12 months, with investment advisers and brokerages gradually increasing their bitcoin allocations.

The flow picture has improved markedly since mid-summer. U.S. spot bitcoin ETFs had recorded year-to-date net outflows of $5.8 billion as of July 13, but that trend reversed in the following months. By late September, net inflows for 2026 had turned positive at $800 million.

Policy uncertainty in Washington has not derailed the recovery. The U.S. Senate failed to advance the Clarity Act in mid-September, a setback for legislation aimed at establishing a regulatory framework for digital assets. Yet the market absorbed the disappointment with surprising resilience. Bitcoin gained more than 10% in the month following the bill's rejection on Sept. 15.