Citi has raised its 12-month Bitcoin price target to $113,000, up from its previous $82,000 forecast.
The bank points to stronger crypto activity, improving macro conditions and renewed Bitcoin ETF inflows.
Citi also expects about $5 billion in crypto inflows over the next 12 months, with advisers and brokerages gradually increasing their $BTC allocations.
The forecast comes as Bitcoin has gained about 40% from its July lows, while institutional interest has started recovering.
The $113,000 target is Citi’s forecast, not a guaranteed price level.
#BTC, is the correction enough?# #BTC Price Analysis#
The bank points to stronger crypto activity, improving macro conditions and renewed Bitcoin ETF inflows.
Citi also expects about $5 billion in crypto inflows over the next 12 months, with advisers and brokerages gradually increasing their $BTC allocations.
The forecast comes as Bitcoin has gained about 40% from its July lows, while institutional interest has started recovering.
The $113,000 target is Citi’s forecast, not a guaranteed price level.
#BTC, is the correction enough?# #BTC Price Analysis#