Citigroup Raises Bitcoin's 12-Month Price Target to $113,000

Odaily News: Citigroup has raised its 12-month price target for Bitcoin from $82,000 to $113,000, and its price target for Ethereum from $2,240 to $3,028.

Citigroup expects that crypto asset ETF inflows could reach $5 billion over the next year, and believes that factors such as a recovery in ETF demand and a weakening U.S. dollar could provide support for the crypto market. In May and June of this year, U.S. spot Bitcoin ETFs saw combined net outflows of nearly $7 billion, but fund flows began to reverse starting in July, with net inflows exceeding $2 billion in September. (Fortune)