Citi Raises Bitcoin Target to $113,000

Citigroup raised its 12-month bitcoin forecast to $113,000 from $82,000 and its ether target to $3,028 from $2,240, citing renewed ETF inflows and favorable economic conditions. The bank expects $5 billion of inflows into crypto investment products over the next year as advisers and brokerages gradually increase bitcoin allocations. Bitcoin rose more than 10 percent after the Senate rejected the Clarity Act on Sept. 15.