TLDR
- Citi raised its 12-month Bitcoin price target from $82,000 to $113,000.
- The bank increased its Ether forecast from $2,240 to $3,028.
- Citi expects about $5 billion in Bitcoin-related inflows over the next 12 months.
- U.S. spot Bitcoin ETFs recovered from earlier outflows, reaching about $800 million in 2026 net inflows by late September.
- Citi cited renewed ETF demand, SEC rule changes, and U.S. Treasury bond buybacks as factors supporting its crypto outlook.
Citigroup has raised its 12-month forecasts for bitcoin and ether as ETF demand returns and macro conditions improve. The bank now sees the Bitcoin price reaching $113,000, up from its prior $82,000 target, while ether could reach $3,028.
Citi Raises Bitcoin Price Target to $113,000
Citi’s new Bitcoin price forecast stands about 35% above the market level near $83,900. Its ether target sits about 12% above a price near $2,697. The bank cited stronger crypto activity, renewed fund demand, and a more supportive economic backdrop.
The bank expects advisers and brokerages to increase bitcoin exposure gradually rather than make large shifts at once. Citi forecasts about $5 billion of inflows over the next 12 months. Recent data also showed that U.S. spot Bitcoin ETFs recorded their best weekly inflow of 2026.
ETF Demand Returns After Weak First Half
U.S. spot bitcoin ETFs recorded $5.8 billion in net outflows for 2026 through July 13, according to the figures cited in the report. Later inflows erased that deficit, leaving the products with roughly $800 million in net inflows by late September.
Citi expects that recovery to continue at a measured pace. The bank’s outlook assumes financial advisers will keep adding bitcoin allocations over time. That approach could provide steady demand without relying on short periods of heavy buying from a small group of investors.
Macro Conditions Support Citi’s Crypto Outlook
Citi also pointed to policy and market developments in the United States. The Senate failed to advance the Clarity Act on September 15, but later SEC rule announcements reduced some of the market’s negative reaction. Bitcoin then gained more than 10% before September ended, while Bitcoin reclaimed its 50-week moving average during the rebound.
The bank also cited U.S. Treasury bond buybacks as a factor that helped revive demand for risk assets. Recent market coverage showed that the U.S. Treasury scheduled a $6 billion long-bond buyback as yields tested multi-year highs.
Citi also raised its 12-month ether forecast from $2,240 to $3,028, up from its previous target. The revised targets show that Citi expects renewed ETF demand and broader market conditions to support both assets during the next year. Bitcoin remains below Citi’s new target, so the forecast depends on the bank’s expected inflow trend continuing alongside supportive financial conditions. Citi’s note sets a 12-month horizon for both forecasts.
