Citi Raises Bitcoin Target to $113,000 and Ether to $3,028 in One-Year Crypto Outlook
Key Takeaways
- •Citigroup raised its 12-month Bitcoin forecast to $113,000 from $82,000 and its Ether target to $3,028 from $2,240, citing favorable crypto market activity and macro conditions.
- •The bank projects approximately $5 billion in net crypto ETF inflows over the next 12 months, after Bitcoin ETFs reversed July's outflows and turned net positive by $1 billion in 2026.
- •Ethereum has outperformed Bitcoin across all recent timeframes, gaining 58.2% over 90 days compared with Bitcoin's 36.6% rise.
- •The U.S. Senate's failure to advance the CLARITY Act has left the crypto market-structure question unresolved in Congress, narrowing the path to a comprehensive framework.
- •U.S. initial jobless claims came in at 197,000, below the expected 201,000, pointing to labor market strength that reinforces the soft-landing outlook for risk assets.
Citigroup, one of the largest banks in the United States, has shared a bullish prediction on Bitcoin and Ethereum, setting price targets of 20–25% higher for each over the next year. According to a report by Reuters, the banking giant raised its 12-month Bitcoin forecast to $113,000 from $82,000 and its Ether target to $3,028 from $2,240, citing favorable activity across the broader crypto market as well as macroeconomic conditions turning favorable.
The bullish call comes as the broader crypto market has seen a strong rebound from mid-August. Over the past three months, Bitcoin and Ether have rebounded nearly 40% and 68%, respectively. As per Citibank, this recovery is partly due to recent U.S. Treasury buybacks of longer-dated bonds, which weakened the dollar and renewed upward momentum across digital assets. Meanwhile, macro indicators are improving, as PCE inflation — the Federal Reserve's preferred inflation gauge — shows signs of cooling and the odds of an interest rate hike drop.
Citi Bets on Renewed ETF Inflows and SEC Actions
Furthermore, Citibank is betting on renewed ETF inflows into the market. The bank projects approximately $5 billion in net crypto ETF inflows over next 12 months. Spot crypto ETFs, which debuted in the U.S. in 2024 and hold the underlying tokens directly, have turned weekly flow data into one of the most closely watched gauges of institutional demand for the asset class. For reference, Bitcoin ETFs have reversed all of the $5 billion in outflows recorded in July and are net positive by $1 billion for the year 2026. Whether actual flows match the projection will be one clear checkpoint for the forecast over the year ahead.
Citibank has also lauded the regulatory actions undertaken by the U.S. Securities and Exchange Commission, despite the failure of the CLARITY Act bill to pass through Congress. However, it said that the U.S. Senate's failure to advance the CLARITY Act — legislation aimed at establishing a comprehensive crypto market structure framework — last week narrowed the path toward that goal, leaving the market-structure question unresolved in Congress.
Ethereum Shows Greater Relative Strength Than Bitcoin
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has clearly outperformed Bitcoin (BTC), the largest, over the past three months. Reports suggest ETH is currently showing greater relative strength than BTC in overall comparison.
As reported by AskClash, Ethereum has posted stronger returns than Bitcoin across all timeframes. ETH gained 0.78% over 24 hours, 0.59% over seven days, 8.93% over 30 days, and 58.2% over 90 days. Bitcoin recorded gains of 0.55% over 24 hours, a 0.17% decline over seven days, a 6.38% increase over 30 days, and a 36.6% rise over 90 days.
There is no doubt that Bitcoin is the larger asset by market size and thus has a much higher relative base. AskClash said the performance gap indicates stronger relative momentum for ETH as BTC consolidates around the $82,000–$83,000 range.
Crypto analyst CW said Ethereum's bullish trend remains intact. He identified $2,680 as a key Point of Control (POC) level — the price zone with the heaviest historical trading volume — that continues to provide strong support. According to the analyst on X, the buy wall around ETH remains firm as the price moves toward the $2,740–$2,760 sell wall. CW added that breaking through this resistance zone would be necessary for a more significant rally.
Bitcoin Flashes Bull Signal as U.S. Jobs Data Improves
CW said Bitcoin's “Bull On” signal is strengthening while its “Bull Off” signal continues to weaken, indicating a gradual transition toward a bull market. Per the analyst on X, the “Bull On” indicator currently stands at 39, while a reading of 60 marks the threshold for a full-fledged bull market.
On the macroeconomic front, U.S. initial jobless claims — a weekly count of new applications for unemployment benefits — came in at 197,000 for the latest reporting week, below expectations of 201,000. The stronger-than-expected reading points to continued strength in the labor market. Strong employment combined with cooling inflation continues to support the soft-landing outlook — a scenario in which the economy cools without tipping into recession — creating a favorable setup for risk assets overall.
This article is for informational purposes only and does not constitute financial or investment advice. Citi's targets and analyst indicators are forecasts and may not materialize. Readers should conduct their own research before making any financial decisions.
This article originally appeared on The Market Periodical.
