Citigroup has boosted its 12-month price forecasts for bitcoin and ether, citing a recovery in ETF inflows and favorable macroeconomic conditions in a Wednesday research note.
Citi now sees bitcoin reaching $113,000 over the next 12 months, up from its previous target of $82,000. Its ether target was also increased, rising from $2,240 to $3,028. The revised forecasts are about 35% above BTC’s current price and 12% above ETH’s.
The bank expects demand for crypto investment products, including ETFs, to return at a more measured but sustained pace. Citi said financial advisers and brokerages are likely to gradually increase their bitcoin allocations, leading to an estimated $5 billion of inflows over the next year.
The shift comes after a sharp turnaround in U.S. spot bitcoin ETF flows. The funds had accumulated $5.8 billion in net year-to-date outflows through July 13, but those losses were later erased, with 2026 net inflows reaching roughly $800 million by late September.
Citi said regulatory developments from the U.S. Securities and Exchange Commission have also helped improve sentiment following the Senate’s Sept. 15 failure to advance the CLARITY Act. The bank characterized the SEC’s subsequent rulemaking as a “temporary but meaningful positive.”
“At this stage of the electoral cycle stage, rulemaking clarity may substitute for a durable Clarity Act,” Citi said. It added that a change in administration in 2028 could create a risk of agency rules being rolled back, although that possibility falls outside its forecast period.
Bitcoin gained more than 10% during the remainder of September following the Senate’s rejection of the legislation, highlighting the market’s resilience despite the setback.
Citi also credited the U.S. Treasury’s purchases of longer-maturity bonds with helping reignite momentum in crypto markets. According to the bank, the move helped digital assets break out of a months-long period of underperformance relative to other risk assets.
UPDATE (Oct. 1, 12:00 UTC): Reuters attributions removed and additional details from Citi’s note added.
