NEW YORK, Oct. 2 (CandyPulse) — Wall Street is warming up to bitcoin again. Citigroup has raised its 12-month bitcoin price target to $113,000, up from $82,000, CoinDesk reported. It also lifted its ether target to $3,028, from $2,240.
Key takeaways
The bank cited stronger activity across crypto markets, a more supportive macro backdrop and, crucially, the return of ETF inflows. Citi expects around $5 billion in crypto inflows to support its forecast.
The timing lines up with the data. U.S. spot bitcoin ETFs just recorded about $2.65 billion of net inflows in September, after a strong August.
Citi's latest call is a big reversal from its caution earlier this year:
| When | Citi's 12-month bitcoin target |
|---|---|
| Start of 2026 | $143,000 |
| March 2026 | $112,000 |
| July 2026 | $82,000 |
| October 2026 | $113,000 |
In July, the bank cut its target as ETF demand weakened and as worries grew that digital-asset treasury companies, firms that hold crypto on their balance sheets, could become sellers. With ETF buying back, that concern has eased.
Citi's update also points to better regulatory clarity, even though the CLARITY Act stalled in the U.S. Senate last month. Regulators, including the SEC, have continued to move ahead with their own crypto rules.
Bank forecasts make headlines, but they're opinions, not promises. As Citi's own track record this year shows, targets can change quickly when conditions shift. They're best read as a snapshot of how one institution sees the risks and opportunities right now.
Watch whether ETF inflows continue in October. They're the key pillar of Citi's more optimistic outlook.
This article is for information only and is not financial advice. Price targets are analyst forecasts and may not be reached.