Citi has raised its 12-month price targets for Bitcoin and Ether, according to a Reuters report, citing stronger activity across the crypto market, a supportive macro backdrop, and a return of ETF inflows. The bank lifted its Bitcoin target to $113,000 from $82,000 and increased its Ether target to $3,028 from $2,240. In a report released on Wednesday, Citi said it expects capital inflows into the crypto market to recover, though at a slower and steadier pace than before. The bank added that flows could remain durable as investment advisers and brokerages gradually increase Bitcoin allocations. Citi also projected that the crypto market will attract $5 billion in inflows over the next 12 months. Reuters noted that the U.S. Senate failed last week to advance the CLARITY Act, a bill intended to create a regulatory framework for digital assets, which was described as a setback for the broader industry. The report also said recent buybacks of long-dated Treasuries by the U.S. Treasury weakened the dollar and helped revive upward momentum in crypto markets.
Citi has raised its 12-month price targets for Bitcoin and Ether, according to Reuters, pointing to stronger crypto market activity, a supportive macro environment, and the return of ETF inflows.
The bank increased its Bitcoin target to $113,000 from $82,000. Its Ether target was lifted to $3,028 from $2,240.
In a report published on Wednesday, Citi said it expects inflows into the crypto market to recover, though at a slower and steadier pace than previously seen. The bank said those inflows could continue as investment advisers and brokerages gradually raise Bitcoin allocations.
Citi expects $5 billion to flow into the crypto market over the next 12 months.
Reuters also said the U.S. Senate failed last week to advance the CLARITY Act, a bill designed to establish a regulatory framework for digital assets. The setback was described as a blow to the broader crypto industry. Separately, after the U.S. Treasury recently bought back long-dated government bonds, the dollar weakened, helping restore upward momentum in the crypto market.
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