Bitcoin Price Tests $85,000 as Citi Raises Target to $113K
- Published
- Updated
- Since then
- 2 new reports
Citi raised its 12-month Bitcoin target to $113,000 from $82,000 and also lifted its Ether forecast to $3,028. The bank also projected about $5 billion in crypto ETF inflows over the next year, with one report tying that outlook to new ETFs and higher allocations from advisers and brokerages. Bitcoin was trading around $83,700 on Oct. 1 in one of the updates.
Key claims & sources
What it means
In practice, the change is that Citi now has higher 12-month targets for both Bitcoin and Ether than before, and it now expects roughly $5 billion in crypto ETF inflows over the next year. What stays the same is that these are still forecasts, not trading instructions, and the market price noted in the update was still far below the new Bitcoin target at the time of publication.
Market reaction i
The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.
Coverage timeline
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
Cryptonews.com
scoop
Coinpedia
echo
The Coin Republic
adds
Where this sits in the Bitcoin series
| When | What happened | Figure |
|---|---|---|
| 1.1 years ago | BTC at $115,227 high | today it sits -34.0% from there |
| 4 months ago | BTC at $58,566 low | today it sits +29.9% from there |
From what we have stored, starting 1.1 years ago.