Citigroup raises price forecasts for Bitcoin and Ether

Following the recent recovery in the cryptocurrency market, Citigroup also revised its forecasts for Bitcoin and Ether.

According to Reuters, Citi increased its 12-month price target for Bitcoin from 82 thousand dollars to 113 thousand dollars in its evaluation published on Wednesday.

The bank's Ether estimate was also increased from 2 thousand 240 dollars to 3 thousand 28 dollars.

Based on current price levels, Citi's targets indicate an upside potential of approximately 35 percent in Bitcoin and approximately 12 percent in Ether.

Money flows to spot ETFs have an important place in Citi's Bitcoin outlook.

The bank expects investment advisors and brokerage firms to gradually increase their clients' Bitcoin positions. In this context, an inflow of approximately 5 billion dollars into Bitcoin-related investment products is expected in the next 12 months.

The picture was in the opposite direction for spot Bitcoin ETFs in the USA in the first part of the year. As of July 13, net outflows since the beginning of 2026 had reached 5.8 billion dollars. On the other hand, the trend changed in the following months. As of the end of September, year-to-date total flows turned positive again, reaching net inflows of approximately $800 million.

Citi stated that regulatory developments in the USA also have an impact on the outlook of the crypto market.

Despite the US Senate's failure to advance the Clarity Act on September 15, Bitcoin performed strongly throughout the rest of the month.

Following this development, the Bitcoin price increased by more than 10 percent by the end of September.

According to Citi, the new rules announced later by the US Securities and Exchange Commission SEC helped reduce the negative atmosphere created by the Clarity Act process.

The bank also drew attention to the US Treasury Department's move to buy back long-term bonds among the macroeconomic developments that support the recovery in the cryptocurrency market.

Citi stated that this development contributed to the renewed momentum in the cryptocurrency market and that the market regained strength after a period of several months where it lagged behind other risky assets.

According to the bank, the continuation of ETF inflows and supportive macroeconomic conditions in the coming period are among the main factors that maintain the upward outlook, especially for Bitcoin.