Citi Increases Bitcoin and Ether Price Targets Amid Positive Inflows
- Citigroup raised its Bitcoin price target to $113,000, a rise of approximately 38% from the previous target.
- The bank also increased its Ether forecast by about 35% to $3,028.
- Citi’s revised forecasts are driven by stronger cryptocurrency activity, supportive economic conditions, and renewed ETF inflows.
- Bitcoin ETFs experienced a nine-session inflow streak, ending with net withdrawals of $148.7 million on Sept. 30.
- U.S. bitcoin funds saw their strongest week since October with $2.39 billion in net inflows during the week ending Sept.25.
Citi’s decision to raise its cryptocurrency price targets reflects a recovery in demand and positive market sentiment as indicated by recent ETF inflows and stronger market activity for both Bitcoin and Ether.
Despite this optimism, Bitcoin remains down approximately 3% for the year while Ether is down about 9%, underscoring ongoing volatility in the crypto markets.Source
