Citigroup sharply increases Bitcoin price target to $113,000

Citigroup has become a lot more positive about Bitcoin (BTC). The US bank is increasing its price target for the next twelve months from $82,000 to $113,000. The expectation for Ethereum (ETH) is also rising.

The bank mainly points to the return of money to US crypto ETFs and more favorable conditions in the financial markets. From the current Bitcoin price, the new price target means a possible increase of about 35 percent.

Citigroup expects investors to invest about $5 billion in products such as Bitcoin ETFs over the next 12 months. Financial advisors and asset managers in particular would slowly increase their exposure to Bitcoin.

Earlier this year, the picture looked very different. On July 13, the US spot Bitcoin ETFs for 2026 had a net outflow of $5.8 billion.

That backlog has been completely eliminated in recent months. According to the data provided, the counter for 2026 stood at approximately 800 million dollars in net inflows at the end of September.

Citigroup therefore increased its twelve-month price target for Bitcoin from 82,000 to 113,000 dollars. For Ethereum, the expectation went up from $2,240 to $3,028. From current levels, that would amount to increases of about 35 and 12 percent, respectively.

Developments in Washington also play a role, according to Citigroup. The US Senate failed to push the CLARITY Act further in September. Initially, this created uncertainty around the regulations for crypto.

According to the bank, new announcements from the sec regulator subsequently removed some of those concerns. The crypto market also held up well. Bitcoin rose by more than ten percent towards the end of the month after the failed vote on 15 September.

In addition, Citigroup points to the policy of the US Department of the Treasury. According to the bank, the purchase of longer-term government bonds provided new positive impulses in the financial markets.

This also helped the crypto market, which previously lagged behind other risky investments for months. The combination of new ETF inflows and more favorable market conditions is the main reason for Citigroup to increase the price target for Bitcoin.