- Citi raised its 12-month BTC price target to $113,000 from $82,000 and ETH from $2,240 to $3,028.
- Citi now projects $5 billion (down from $10 billion) in crypto ETF inflows over 2027.
- ETF inflows, US crypto regulation, and BTC’s rise were reasons for Citi’s changed outlook.
Citi, a global investment bank, has raised its 12-month Bitcoin target to $113,000 from $82,000, pointing to renewed inflows into crypto investment products and a better overall market mood. It also raised its Ethereum target for the same period from $2,240 to $3,028.
These new numbers are a big change from where Citi stood earlier this year. Back in July, the bank slashed its Bitcoin target from $112,000 to $82,000 after ETF inflows dried up and the US crypto legislation stalled.
Citi had also scrapped its earlier estimate of $10 billion in ETF inflows. Now, it expects about $5 billion flowing into crypto investment products over the next year, with advisors and brokerages slowly raising their Bitcoin allocations, rather than generating a sudden buying frenzy.
ETFs are the Main Catalyst
ETF demand is a key part of this new outlook, considering Citi’s note comes after US spot Bitcoin ETFs flipped from heavy outflows earlier in 2026 to positive cumulative flows by late September. Year-to-date net flows reportedly hit about $800 million by late September, versus $5.8 billion in net outflows on July 13.
US crypto regulation also played a role in the latest evaluation. The Senate’s failure to move the CLARITY Act forward in September was another blow to efforts at broad digital asset market-structure legislation.
However, Citi said later SEC rulemaking helped soften some of that negative sentiment. The SEC has also been pushing forward with efforts to make on-chain markets easier to operate, like its September Innovation Exemption for certain tokenized securities venues and liquidity providers.
The bank also linked Bitcoin’s recent bounce partly to a softer dollar and the Treasury buying back longer-dated bonds. BTC was up about 40% from its July lows, whereas ETH had gained roughly 68% over the prior three months.
According to CoinMarketCap, Bitcoin is currently trading at about $83,800, roughly the same as it was 7 days ago. Nonetheless, it’s up about 8% compared with 30 days ago.
Related: Citi Partners With Coinbase to Enhance Stablecoin Payments: What Does This Mean?
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