Citigroup Raises 12-Month Bitcoin Price Target to $113,000
Citigroup lifted its bitcoin forecast to $113,000 over 12 months, citing renewed inflows into spot bitcoin ETFs as a key driver.
Citigroup has raised its 12-month price target for bitcoin to $113,000, according to a report from CoinDesk, as the Wall Street bank points to a resumption of inflows into spot bitcoin exchange-traded funds as a primary catalyst for the upward revision.
The updated forecast reflects growing institutional confidence in bitcoin as an asset class, with ETF demand emerging as a closely watched indicator of mainstream adoption. Spot bitcoin ETFs, approved by U.S. regulators earlier this year, have drawn significant attention from both retail and institutional investors, and renewed capital flows into those products appear to be underpinning Citigroup's bullish outlook.
Read more SEC Opens Private Markets to Retail Investors in Rule Shift →
The revision places Citigroup among the more optimistic voices on Wall Street regarding bitcoin's near-term trajectory. Analysts tracking the cryptocurrency market have noted that ETF inflow data has become one of the most reliable short-term price signals since regulated products launched in the United States.
Bitcoin's price performance has been closely tied to sentiment shifts around macroeconomic conditions, regulatory developments, and, increasingly, the flow of institutional money through ETF vehicles. A sustained return of inflows would, in theory, provide consistent buying pressure that could support prices toward Citigroup's revised target over the coming year.
Continue reading at CoinDesk.
