Citi predicts Bitcoin going back to $113,000. Here’s what the buying data shows
Summary
Citi raised its 12-month Bitcoin price target to $113,000 from $82,000, citing stronger activity, supportive macro conditions and renewed ETF inflows. The target implies a 36% gain from the Oct. 7 price of $83,085, but remains below Bitcoin’s previous record. Glassnode data show new capital entering through ETFs, stablecoins and corporate treasury buying, while spot and ETF trading volume is unusually low. Recent ETF flows were mixed, with inflows on Oct. 6 followed by larger outflows the next day. Citi also expects $5 billion in crypto inflows over the year, though the category is unclear and an older ETF-flow relationship cannot validate its current target. Sustained buying and stronger trading activity remain uncertain.
