Citi turns bullish on Bitcoin again with a $113,000 price target

Citigroup has changed its mind about Bitcoin. Again. On September 30, 2026, the bank raised its 12-month Bitcoin price target to $113,000, up from $82,000. That puts the new call roughly back where Citi stood before it slashed its outlook in July. The revision matters because it comes from one of the largest banks in the US. It also lands while Bitcoin sits well below its all-time high. What Citi is actually forecasting The headline number is the Bitcoin target. As of October 1, 2026, Bitcoin traded between $83,900 and $84,100. Measured against Citi’s new $113,000 figure, that implies about 35% of upside over the next year. Ether got a similar upgrade. Citi lifted its 12-month target for the second-largest crypto asset to $3,028, up from $2,240. That works out to a 35% increase in the target itself. The bank also put a number on the money it expects to arrive. Citi forecasts $5 billion in crypto inflows over the next 12 months, with the pace building gradually. The thesis rests on financial advisors and brokerages slowly expanding their crypto allocations. Why the bank flipped Citi pointed to a mix of macro and regulatory factors behind the upgrade. On the macro side, concerns abou...