Citigroup Lifts Bitcoin Price Target to $113,000

Citigroup has updated its 12-month outlook for Bitcoin, raising its price target to $113,000 from a previous estimate of $82,000. The revision, issued on September 30, 2026, returns the bank's forecast to levels seen prior to a downward adjustment made in July.

As of October 1, 2026, Bitcoin was trading between $83,900 and $84,100. The new target suggests approximately 35% upside over the coming year. Citigroup also increased its 12-month target for Ether to $3,028, up from $2,240.

The bank projects $5 billion in crypto inflows over the next 12 months, anticipating that financial advisors and brokerages will gradually increase their allocations to the asset class. This forecast follows a period of recovery for crypto exchange-traded funds, which saw estimated inflows of about $800 million by late September 2026.

Citigroup attributed the shift in outlook to a combination of macroeconomic and regulatory developments. The bank noted concerns regarding currency debasement and the impact of US Treasury bond buybacks on the dollar. On the regulatory front, the bank pointed to SEC rulemaking as a factor that has improved market sentiment, despite the Senate's failure to advance the Clarity Act.

The bank's previous outlook in July had lowered the Bitcoin target from $112,000 to $82,000, citing legislative challenges and stagnant ETF inflows. Even with the current upgrade, the $113,000 target remains below the $126,200 peak Bitcoin reached in October 2025.

The sustainability of this outlook depends on several variables, including the continued softness of the dollar and the persistence of debasement concerns. Additionally, the industry's reliance on SEC rulemaking rather than legislation introduces potential volatility, as agency rules are subject to change by future leadership.