Citigroup raised its 12-month Bitcoin price target to $113,000 from $82,000, based on an assumption that crypto investment funds will attract $5 billion in new money. Bitcoin was trading around $86,000 on October 2, putting the target roughly 31% higher. Citi analyst Alex Saunders also lifted the bank’s Ethereum target to $3,028 from $2,240. The forecast covers inflows into all crypto funds, including spot Bitcoin ETFs, rather than Bitcoin-focused vehicles alone. U.S. spot Bitcoin ETFs drew about $2.4 billion through September 25, nearly half Citi’s annual inflow assumption and their strongest week since October 2025. Citi’s Bitcoin targets have moved from $143,000 to $112,000, then $82,000, before the latest increase. Saunders linked the rebound to stronger crypto-market activity, proposed SEC rules, the U.S. Treasury’s repurchase of longer-dated bonds and SEC guidance after Congress abandoned the CLARITY Act in September. Risks include a 5.17% 10-year Treasury yield and potential regulatory changes after the 2028 election. Citi says Bitcoin would need to remain above $82,000, ETF inflows to stay positive and SEC regulations to remain in place for the forecast to hold.