$BTC $ETH For a long time, I’d just scroll past headlines like “Bank X raises its BTC target”—it seemed more like PR than analysis, so I stopped paying attention.
But when I looked at Citigroup’s track record of forecasts this year, I paused. The bank started 2026 with a BTC target of $143,000, lowered it to $112,000 in March, then to $82,000 in July amid weak ETF inflows and fears that companies holding BTC in their treasuries would start selling. Now, on October 1, it sharply raised the target back to $113,000—the third change in ten months. The picture is similar for ETH: its target jumped from $2,240 to $3,028 in one go.
The reasons Citi cited are quite specific: ETF inflows recovered ($800 million in late September), the dollar weakened as the U.S. Treasury bought back long-term bonds, and overall market activity increased. One important caveat: the Senate failed to advance the CLARITY Act—which was supposed to provide regulatory clarity for crypto—on September 15. In other words, the rally is happening without the key regulatory catalyst everyone had been waiting for.
Three different targets in ten months from one bank isn’t an analytical error; it’s an honest reflection of how quickly the picture is changing in this market.
$BTC #Bitcoin #Ethereum
But when I looked at Citigroup’s track record of forecasts this year, I paused. The bank started 2026 with a BTC target of $143,000, lowered it to $112,000 in March, then to $82,000 in July amid weak ETF inflows and fears that companies holding BTC in their treasuries would start selling. Now, on October 1, it sharply raised the target back to $113,000—the third change in ten months. The picture is similar for ETH: its target jumped from $2,240 to $3,028 in one go.
The reasons Citi cited are quite specific: ETF inflows recovered ($800 million in late September), the dollar weakened as the U.S. Treasury bought back long-term bonds, and overall market activity increased. One important caveat: the Senate failed to advance the CLARITY Act—which was supposed to provide regulatory clarity for crypto—on September 15. In other words, the rally is happening without the key regulatory catalyst everyone had been waiting for.
Three different targets in ten months from one bank isn’t an analytical error; it’s an honest reflection of how quickly the picture is changing in this market.
$BTC #Bitcoin #Ethereum
