Citigroup lifted its 12-month Bitcoin price target to $113,000, up from a previous target of $82,000. The new forecast remains approximately 10% below Bitcoin's October 2025 record high.
The bank also revised its Ethereum price target upward to $3,000, though the article does not specify the prior target for that asset.
Citigroup's upgraded Bitcoin outlook reflects a shift in the bank's medium-term valuation perspective. The $113,000 target suggests institutional confidence in further upside, even as it remains below the asset's recent peak. This revision represents a $31,000 increase to the bank's previous forecast.
The timing of Citigroup's upgrade comes as major institutional investors have increased their engagement with Bitcoin products and strategies. Large banks and asset managers have expanded cryptocurrency offerings and research in recent years.
Citigroup's targets carry weight in markets because major financial institutions influence client allocation decisions and serve as price discovery mechanisms. When established banks adjust long-term forecasts, they often signal shifts in their analysis of macroeconomic conditions, adoption trends, or valuation frameworks.
The $113,000 Bitcoin target and $3,000 Ethereum target represent specific price points that market participants will monitor. These forecasts serve as reference levels for institutional traders and asset allocators evaluating exposure to digital assets within their portfolios.
Citigroup did not provide detailed reasoning behind the revised targets in the available excerpt, though institutional upgrades typically reflect factors such as increased institutional adoption, improved regulatory clarity, or strengthened network fundamentals.