Citi has raised its twelve-month Bitcoin target to $113,000 from $82,000 previously. Reaching this target would require a 36% rise from the October 7 price of $83,085, while staying below Bitcoin’s previous record of $126,198.07. Glassnode data shows trading volume below levels seen nine out of ten days since January 2024, raising questions about broad market participation. US spot Bitcoin ETFs recorded net inflows of $118.8 million on October 6, followed by net outflows of $484.9 million on October 7. Citi’s target would imply a market capitalization of approximately $2.27 trillion, an increase of about $601 billion.
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