ChainCatcher report, according to Reuters, Citigroup has raised its price forecasts for Bitcoin and Ethereum over the next 12 months, citing increased activity in the crypto market, a supportive macroeconomic environment, and the resumption of ETF inflows. Citigroup raised its 12-month Bitcoin price target from $82,000 to $113,000 and its Ethereum target from $2,240 to $3,028. In a report released on Wednesday, Citigroup stated that it expects crypto market inflows to resume, albeit at a slower and more stable pace than before, with continued inflows likely as institutional advisors and brokerages gradually increase their Bitcoin allocations. Citigroup forecasts $5 billion in inflows into the crypto market over the next 12 months. The U.S. Senate failed to advance the CLARITY Act last week, a bill aimed at establishing a regulatory framework for digital assets; its setback represents a setback for the broader crypto industry. Following the U.S. Treasury’s recent repurchase of long-term Treasuries, the dollar weakened, reigniting upward momentum in the crypto market.
Citigroup raises Bitcoin and Ethereum price targets to $113,000 and $3,028
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Summary
Citigroup raised its 12-month Bitcoin price target to $113,000 and its Ethereum price target to $3,028, citing stronger market activity and ETF inflows. The bank forecasts $5 billion in inflows over the next year at a slower but steady pace. The stalled CLARITY Act and U.S. Treasury bond repurchase, which weakened the dollar, also influenced the outlook. Fear and Greed Index readings suggest improving sentiment, supporting the upward revision.
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