Bitcoin Price Tests $85,000 as Citi Raises Target to $113K

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October 1, 2026

Citi raised its 12-month Bitcoin price forecast to $113,000 from $82,000 on October 1, a $31,000 increase that reflects stronger crypto activity, a more supportive macro backdrop, and renewed ETF inflows. The central question is whether slower, steadier institutional allocations can sustain the upgrade without the sharp acceleration often associated with a fresh crypto rally.

The increase is about 37.8% from Citi’s previous forecast. That changes the bank’s stated view of Bitcoin’s 12-month potential. Citi expects inflows to resume gradually as advisers and brokerages raise Bitcoin allocations, rather than surge at once.