Bitcoin Price Tests $85,000 as Citi Raises Target to $113K

Key points

• Citi raised its 12-month Bitcoin forecast to $113,000 from $82,000 on October 1, citing stronger crypto activity, a supportive macro backdrop and renewed ETF inflows.
• The bank expects about $5 billion of crypto inflows over 12 months as advisers and brokerages gradually raise allocations, and lifted its Ether forecast to $3,028 from $2,240.
• Bitcoin rose nearly 40% in the three months through October 1, narrowing its year-to-date loss to about 4%, according to the article.

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