Citi Raises Bitcoin Target to $113,000 Citing Expected Institutional Inflows

Citigroup raised its 12-month Bitcoin target to $113,000 from $82,000 and lifted its Ether forecast to $3,028 from $2,240, projecting $5 billion in crypto ETF inflows over the coming year. Reaching the Bitcoin target requires a 36% gain from the October 7 price of $83,085, which would elevate its market capitalization to $2.27 trillion. The upgrades follow renewed institutional allocations and a supportive macro backdrop, even as market signals remain mixed. Daily spot exchange and ETF trading volume averaged $6.8 billion, while U.S. spot Bitcoin ETFs suffered $484.9 million in net outflows on October 7.