Citi raises 12-month Bitcoin target to $113,000 and Ethereum to $3,028
Citi lifted its 12-month Bitcoin target to $113,000 from $82,000 and its Ethereum target to $3,028 from $2,240, modelling $5 billion of crypto inflows over the year.
Why it matters
A bank of Citi's size publicly reversing a bearish2026 forecast puts institutional price assumptions back near the asset's record level after a quarter of losses, alongside a positive rather than negative inflow assumption for the first time in the note. The revision also records the SEC stepping in on rulemaking after Congress failed to pass the Clarity Act, which Finbold and Bitcoin.com News both connect to Citi's outlook. Whether the $5 billion inflow figure covers spot Bitcoin ETFs alone or broader crypto products is unresolved in the reporting.
Where the sources disagree
Implied upside to the Bitcoin target
roughly 35% (Decrypt, The Crypto Basic) and about 34.8% (Crypto News)
Decrypt, The Crypto Basic, Crypto News (CryptoNews.net)
lifting the previous $82,000 target by nearly 38%
The Crypto Basic, Bitcoin.com News
Outlets report slightly different upside figures depending on the price used.
Horizon of the Bitcoin forecast
12-month target of $113,000
Finbold, Crypto News (CryptoNews.net), Decrypt, Crypto News (CryptoNews.net), The Crypto Basic, Bitcoin.com News
Bitcoin to reach $113,000 by the end of 2026
CoinGape
Most outlets describe a 12-month target while one describes it as a year-end 2026 forecast.
Bitcoin three-month gain
about 40%
The Crypto Basic, CoinGape
nearly 43%
Crypto News (CryptoNews.net)
33% rally since mid-August
Finbold
Reported percentage gains over the past three months differ across outlets.
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
reported flows
$4.51 billion
Decrypt
$3 billion
CoinGape
Decrypt reports $4.51 billion, CoinGape reports $3 billion (33% apart).
Key facts
Citigroup raised its 12-month Bitcoin target to $113,000 from $82,000 in a note dated September 30.
113,000 USDDisputed figureReported by Finbold
Citigroup raised its Ethereum target to $3,028 from $2,240.
3,028 USDDisputed figureReported by Decrypt
Citi analyst Alex Saunders attributed the higher forecasts to stronger cryptocurrency activity, a supportive macro backdrop and returning ETF flows, adding SEC rulemaking.
Reported by Bitcoin.com News
The bank expects about $5 billion of cryptocurrency inflows over the next 12 months, arriving at a slower but steadier pace as advisers and brokerages raise client allocations.
5,000,000,000 USDReported by Finbold
Bitcoin traded near $83,900 and Ethereum near $2,700 at publication, per CoinGecko data.
83,900 USDDisputed figureReported by Decrypt
Citi started 2026 with a $143,000 Bitcoin target, cut it to $112,000 in March and then to $82,000 in July.
143,000 USDDisputed figureReported by Crypto News (CryptoNews.net)
Spot Bitcoin ETFs ended the twelve months to September with a small net outflow, including six negative months and $4.51 billion leaving in June, against $880 million taken in across 2026 so far and $21.37 billion in 2025.
4,510,000,000 USDDisputed figureReported by Decrypt
Bitcoin ETFs recorded a nine-session inflow streak of roughly $3 billion that ended on September 30.
3,000,000,000 USDDisputed figureReported by CoinGape
What happened
Citigroup raised its 12-month Bitcoin target to $113,000 from $82,000 and its Ethereum target to $3,028 from $2,240 in a note dated September 30, 2026, according to Reuters as reported by Decrypt and Bitcoin.com News. Citi analyst Alex Saunders attributed the revision to three components of the bank's process — activity, macro conditions and ETF flows — and also cited SEC rulemaking, which Bitcoin.com News quotes him tying to debasement fears and the failed Clarity Act. The bank now models about $5 billion of cryptocurrency inflows over the next 12 months, arriving gradually as advisers and brokerages lift client allocations rather than in a single institutional wave. Price levels at publication differ across outlets: Bitcoin traded near $83,900 (Decrypt, The Crypto Basic), around $83,773 (Crypto News) and sideways near $83,000 after pulling back from above $87,000 (Crypto News); Ethereum was around $2,700 per CoinGecko data (Decrypt). The implied upside is likewise reported inconsistently, as roughly 35% and about 34.8% for Bitcoin and 12% for Ethereum (Decrypt) against roughly 35% and about 35% (The Crypto Basic). CoinGape reports the Bitcoin target as a year-end 2026 forecast rather than a 12-month one, and Finbold says Citi does not see a new all-time high within the timeframe, which sits about 10% below the October 2025 record of $126,198 (Decrypt, The Crypto Basic). Whether Citi's $5 billion covers spot Bitcoin ETFs alone or crypto products more broadly is not stated in the reporting, Decrypt noted, and the previous target level is given as both $82,000 and $83,000 across the set.
How the story developed
- Official statement
Citi issues revised12-month targets in a note dated September 30
Bitcoin target raised to $113,000 from $82,000 and Ethereum to $3,028 from $2,240, with $5 billion of crypto inflows modelled over12 months.
- Update
Bitcoin ETF inflow streak ends
Bitcoin ETFs finished a nine-session inflow streak of roughly $3 billion on September 30.
- First report
First report by Finbold
Banking giant sets Bitcoin price target
- Update
Reuters reports Citi's target revision
First reporting in the set on the raised targets, attributed by Decrypt and Bitcoin.com News to Reuters.
- Independent corroboration
Independently corroborated by Decrypt
Citi Lifts 12-Month Bitcoin Target to $113K, Ethereum to $3K
- Official statement
Official statement from Bitcoin.com News
Citi Sets $113K Bitcoin Price Target, Expects $5 Billion in Crypto ETF Inflows
- Official statement
Citi analyst Alex Saunders explains the revision
Saunders tied the higher forecasts to activity, macro conditions and ETF flows, plus SEC rulemaking spurred by the failed Clarity Act.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 1 Oct 2026, 11:30 UTC: Finbold — 1 independent source, 1 reports
- 1 Oct 2026, 11:59 UTC: Crypto News (CryptoNews.net) — 2 independent sources, 2 reports
- 1 Oct 2026, 12:23 UTC: Decrypt — 3 independent sources, 3 reports
- 1 Oct 2026, 15:38 UTC: The Crypto Basic — 4 independent sources, 5 reports
- 1 Oct 2026, 15:38 UTC: CoinGape — 5 independent sources, 6 reports
- 1 Oct 2026, 19:05 UTC: Bitcoin.com News, official — 6 independent sources, 7 reports
Affected entities
Also mentioned: U.S. Congress, NYSE, Donald Trump, Commodity Futures Trading Commission, Fidelity, ARK Invest, Base
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Bitcoin.com News Company, official | Citi Sets $113K Bitcoin Price Target, Expects $5 Billion in Crypto ETF Inflows | Independent | |
| Finbold Crypto media | Banking giant sets Bitcoin price target | Original | |
| Decrypt Crypto media | Citi Lifts 12-Month Bitcoin Target to $113K, Ethereum to $3K | Independent | |
| CoinGape Crypto media | Citi Raises 12-Month Bitcoin Target to $113K, Ethereum to $3,028 | Independent | |
| The Crypto Basic Crypto media | Bitcoin Needs About $29,000 More to Reach Citi Bank New 12-Month Target | Syndicated | |
| Crypto News (CryptoNews.net) Aggregator | Wall Street Giant Citi Reverses Bitcoin (BTC) and Ethereum (ETH) Predictions After Recent Developments! Targets Raised! | Syndicated | |
| Crypto News (CryptoNews.net) Aggregator | Bitcoin Price Prediction: Citi Raises 12-Month Target to $113K, Ether to $3,028 | Syndicated |
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