According to Woofun AI, Citigroup (NYSE: C) has raised its 12-month Bitcoin price target to $113,000, citing ETF capital inflows and an improving macroeconomic environment.

A report released by Citigroup (NYSE: C) on Wednesday indicated that institutional sentiment toward crypto assets has strengthened significantly. The 12-month price forecast for Bitcoin was sharply upgraded from $82,000 to $113,000, while Ethereum was raised from $2,240 to $3,028. Based on current prices, this implies roughly 35% and 12% upside potential for Bitcoin and Ethereum respectively.

Data compiled by Woofun AI shows that Citigroup (NYSE: C) expects ETFs to attract $5 billion in capital inflows over the next 12 months, driven primarily by investment advisors and brokerage firms gradually increasing their holdings.

Although as of July 13, U.S. spot Bitcoin ETFs (NASDAQ: IBIT) had recorded $5.8 billion in net outflows year-to-date, the trend reversed by the end of September, with 2026 net inflows turning positive at $800 million.

Policy-level uncertainty has not fully suppressed market resilience. While the U.S. Senate rejected the Clarity Act in mid-October, the SEC subsequently issued rule measures that eased negative sentiment. After the bill was voted down on September 15, Bitcoin still gained more than 10% that month.

A more critical variable lies in the U.S. Treasury's operation to buy back long-term bonds, which provided support to the market and helped it emerge from a slump that had left it lagging behind other risk assets.