Citigroup raises its 12-month Bitcoin price target to $113,000, expects Ethereum to break above $3,000.

BlockBeats news, October 2, according to Forbes, Citi analysts have raised their 12-month price target for Bitcoin from the previous $82,000 to $113,000, and expect Ethereum's price to break through $3,000. Analysts believe that investment advisors and brokerages gradually increasing their crypto asset allocations will drive more capital into Bitcoin ETFs, and it is expected to bring about $5 billion in inflows to Bitcoin ETFs in the future.

Currently, the assets under management of US spot Bitcoin ETFs are approximately $110 billion, holding about 1.3 million Bitcoins, of which BlackRock's IBIT holds more than 800,000. Citi believes that as institutional allocation funds continue to enter, Bitcoin ETF inflows are expected to rebound further.