BTC Price Target: Citi Raises Bitcoin Forecast To $113K, Ethereum Target To $3,028 As ETF Inflows Return

• The new bitcoin target reverses two cuts Citi made earlier in 2026, although it remains below bitcoin’s October 2025 record above $126,000.
• Citi said the Clarity Act setback narrowed the path toward a broader crypto market-structure bill but did not derail its overall outlook.
• Bitcoin and ether have rallied nearly 40% and 68%, respectively, over the past three months, narrowing their year-to-date losses.

Bitcoin (BTC) and Ethereum (ETH) edged higher in early morning trade on Thursday, with Citigroup raising its 12-month price targets for both leading cryptocurrencies, pointing to stronger crypto market activity, a more supportive macroeconomic backdrop and a resumption of exchange-traded fund inflows.

The firm raised its price target on Bitcoin to $113,000 from $82,000, an increase of roughly 38%, while lifting its price target on Ethereum to $3,028 from $2,240, as per a note to investors cited by Reuters.

Bitcoin’s price edged about 0.06% lower in the last 24 hours, trading at around $83,600 at the time of writing. On Stocktwits, retail sentiment around the apex cryptocurrency trended in ‘bearish’ territory over the past day.

Meanwhile, Ethereum’s price edged 0.11% lower in the last 24 hours, trading at around $2,600 at the time of writing. It also saw sentiment trending in ‘bearish’ territory over the past day. 

Bitcoin and Ethereum have rallied nearly 40% and 68%, respectively, over the past three months, narrowing their year-to-date losses to roughly 4% and 9%.

Citi Reverses Two Bitcoin Target Cuts

The latest forecast marks a sharp reversal from Citi’s outlook earlier this year. The firm started 2026 with a $143,000 Bitcoin price target, cut it to $112,000 in March after the CLARITY Act stalled in the Senate Banking Committee, and lowered it again to $82,000 in July. 

The July cut reflected weak ETF demand and concerns that digital-asset treasury companies could become net sellers. The new $113,000 target remains below Bitcoin’s October 2025 record above $126,000.

ETF Inflows Become Key To Citi’s Outlook

Citi’s updated targets depend heavily on institutional demand returning to crypto ETFs. 

The firm expects roughly $5 billion of inflows over the next 12 months for spot U.S. BTC ETFs, with advisers and brokerages gradually increasing their allocations rather than returning to the market all at once.

Bitcoin ETFs have recorded $875.91 million in net inflows so far this year, according to SoSoValue data. They’ve seen approximately $3.26 billion over the past 12 months through September 2026.

CLARITY Act Setback Narrows Regulatory Path

Citi acknowledged last month’s failure to advance the Clarity Act, which would establish a regulatory framework for digital assets and clarify the jurisdictional divide between the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).

The firm said the setback “narrowed the path to a market-structure bill” but did not derail the broader regulatory outlook. Citi also pointed to subsequent SEC rule announcements that helped offset some of the negative impact on market sentiment.

Citi also pointed to a weaker dollar and broader risk-asset momentum as factors supporting the recent crypto rally, including the Treasury’s recent move to buy back longer-dated bonds.

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