Citigroup raises Bitcoin and Ether price targets

Citigroup has significantly raised its 12-month price targets for major cryptocurrencies, citing favorable macroeconomic conditions and renewed capital inflows into crypto investment products. The bank increased its Bitcoin target from $82,000 to $113,000 and its Ether target from $2,240 to $3,028.

Citigroup projects approximately $5 billion in capital inflows into crypto assets over the next year as advisors and brokerages gradually increase allocations. This optimism is supported by recent activity in spot ETFs, which saw substantial net inflows during the third quarter.

Market sentiment is further influenced by broader economic data. Recent U.S. employment figures, showing weaker-than-expected job growth, have increased expectations that the Federal Reserve may pause interest rate hikes, a move generally viewed as positive for risk assets like Bitcoin and Ether. Additionally, technical indicators such as a 'golden cross'—where the 30-day moving average crosses above the 365-day average—have been noted by market analysts as potential signs of a long-term upward trend.