Citigroup Raises Bitcoin Forecast to $113,000

Citigroup has revised its forecasts for the value of major cryptocurrencies, significantly raising target prices for Bitcoin and Ethereum. As key growth drivers, financial experts cite renewed capital inflow into exchange-traded funds and an improving macroeconomic situation.

Citi's 12-month Bitcoin forecast grew by 38%, reaching $113,000. Previously, the bank assessed the asset's potential at $82,000. Analysts attribute this jump to increased activity in the crypto market and a favorable backdrop for investment ETFs.

In addition to Bitcoin, optimism was also shown regarding Ethereum. The target price for Ethereum was increased from $2,240 to $3,028 per coin. This change reflects the overall positive dynamics of the digital asset market amid institutional interest.

The regulatory environment remains complex, especially after the unsuccessful advancement of the CLARITY Act bill in the US Senate. However, subsequent steps by the Securities and Exchange Commission (SEC) helped mitigate negative investor sentiment and stabilize the market.