- Citigroup raised its 12-month Bitcoin Price target to $113,000 and its Ethereum target to $3,028, reversing two earlier cuts in 2026.
- The firm expects roughly $5 billion in spot Bitcoin ETF inflows over the next year, driven by gradual allocation increases from advisers and brokerages.
- Bitcoin and Ethereum have rallied nearly 40% and 68% respectively over the past three months, narrowing year-to-date losses to roughly 4% and 9%.
On Thursday, Citigroup raised its 12-month price targets for both Bitcoin and Ethereum, citing stronger market activity, a more supportive macroeconomic backdrop, and a resumption of exchange-traded fund inflows. Bitcoin edged roughly 0.06% lower in the last 24 hours, trading around $83,600, with retail sentiment trending bearish on Stocktwits. Ethereum similarly slipped 0.11% to approximately $2,600, also facing bearish sentiment.
The new Bitcoin target of $113,000 represents a roughly 38% increase from the firm’s previous $82,000 forecast, while the Ethereum target rose from $2,240 to $3,028. This marks a sharp reversal from Citi’s earlier outlook, which started 2026 with a $143,000 Bitcoin target before cutting it to $112,000 in March after the CLARITY Act stalled, and lowered it again to $82,000 in July.
Consequently, Citi’s updated outlook depends heavily on institutional demand returning to crypto ETFs, with expectations of roughly $5 billion in inflows over the next 12 months for spot U.S. Bitcoin ETFs. The firm anticipates advisers and brokerages will gradually increase their allocations rather than returning to the market all at once, with Bitcoin ETFs having recorded $875.91 million in net inflows so far this year.
Meanwhile, Citi acknowledged that last month’s failure to advance the CLARITY Act narrowed the path toward a broader market-structure bill but did not derail the overall regulatory outlook. The firm pointed to subsequent SEC rule announcements as helping offset some negative impact on market sentiment, while also citing a weaker dollar and broader risk-asset momentum as supporting factors. These include the Treasury’s recent moves to buy back longer-dated bonds.
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