In a research note disclosed by Citigroup on October 1, the firm raised its 12-month target price for $BTC from $82,000 to $113,000, and lifted its 12-month target price for $ETH from $2,240 to $3,028. The document is dated Wednesday.
The bank’s key rationale includes a rebound in activity in the crypto market, a generally more favorable macro environment, and expectations that capital inflows into investment products such as ETFs will resume.
Citigroup expects that as advisors and brokerages gradually increase their Bitcoin allocations, related capital inflows will proceed in a “slower but steadier” rhythm. It also projects that crypto-related inflows over the next 12 months will total about $5 billion, with the path depending more on the gradual rebuilding of institutional allocations rather than a one-off, large-scale rush. This contrasts with July of this year: at the time, the bank had cut its 12-month Bitcoin target from about $112,000 to $82,000 and reduced its expected inflows from roughly $10 billion to nearly zero. The note also mentions that after the U.S. Senate failed to advance the CLARITY Act, subsequent SEC rule announcements eased some of the negative sentiment; macro changes such as the Treasury’s repurchases of longer-term Treasuries and a weaker U.S. dollar were also written into the supporting narrative. This target reflects an institutional 12-month research outlook and depends on whether inflows and the macro picture can materialize—it is not a short-term price guide.
#BTC #ETH #行情 does not constitute investment advice
The bank’s key rationale includes a rebound in activity in the crypto market, a generally more favorable macro environment, and expectations that capital inflows into investment products such as ETFs will resume.
Citigroup expects that as advisors and brokerages gradually increase their Bitcoin allocations, related capital inflows will proceed in a “slower but steadier” rhythm. It also projects that crypto-related inflows over the next 12 months will total about $5 billion, with the path depending more on the gradual rebuilding of institutional allocations rather than a one-off, large-scale rush. This contrasts with July of this year: at the time, the bank had cut its 12-month Bitcoin target from about $112,000 to $82,000 and reduced its expected inflows from roughly $10 billion to nearly zero. The note also mentions that after the U.S. Senate failed to advance the CLARITY Act, subsequent SEC rule announcements eased some of the negative sentiment; macro changes such as the Treasury’s repurchases of longer-term Treasuries and a weaker U.S. dollar were also written into the supporting narrative. This target reflects an institutional 12-month research outlook and depends on whether inflows and the macro picture can materialize—it is not a short-term price guide.
#BTC #ETH #行情 does not constitute investment advice
