Citigroup Shocks Market with $113K Bitcoin Target as ETF Inflows Return

Citigroup has raised its 12-month price target for bitcoin to $113,000, up from a previous estimate, as exchange-traded fund (ETF) inflows into the cryptocurrency resumed. The bank also lifted its 12-month target for ether to $3,028 from $2,240, according to a report by CoinDesk. The revised forecasts were announced on [date] and signal a bullish shift in institutional sentiment toward digital assets.

The upgrade comes amid a resurgence in investor interest in crypto ETFs, which had seen lackluster flows in recent months. Citigroup's analysts pointed to improving market conditions and renewed demand as key drivers for the higher targets. The bank's revised ether target represents a significant increase of over 35% from its previous estimate, while the bitcoin target implies substantial upside from current levels. The move follows similar bullish calls from other major financial institutions as the crypto market stabilizes.

The updated targets from Citigroup could further bolster institutional confidence in cryptocurrencies, potentially attracting more traditional investors to the asset class. Market observers will be watching whether other banks follow suit with their own revised forecasts. The resumption of ETF inflows is seen as a critical indicator of sustained institutional adoption, and Citi's endorsement may accelerate that trend. Next steps include monitoring upcoming regulatory decisions and macroeconomic factors that could impact crypto prices.