# Citi Raises Bitcoin and Ethereum Forecasts: Here Are the New 12-Month Price Targets! > Citigroup raised its 12-month price target for Bitcoin to $113,000 and for Ethereum to $3,028, citing renewed inflows into ETFs and supportive macroeconomic conditions. According to a report by Reuters,… **Citigroup raised its 12-month price target for Bitcoin to $113,000 and for Ethereum to $3,028, citing renewed inflows into ETFs and supportive macroeconomic conditions.** According to a report by Reuters, citing a September 30 bank note, and reported by CoinDesk, **Citi** raised its forecast for [Bitcoin](https://koinbulteni.com/btc-bitcoin) from **$82,000 to $113,000** and its forecast for Ethereum from **$2,240 to $3,028**. The bank’s upward revisions to its targets amount to about **38%** for both assets. However, the upside potential offered by the new targets differs based on current prices: At the time of the report, Bitcoin was trading at about $83,632 and [Ethereum](https://koinbulteni.com/en/coins/ethereum) at about $2,686; reaching the targets from those levels would require gains of approximately **35% and 13%**, respectively. ### Why does Citi expect $5 billion in inflows? The bank expects investment advisers and brokerages to gradually increase Bitcoin’s share in portfolios. It expects this approach to bring slow but steady demand for investment products such as ETFs, generating **$5 billion in inflows over the next 12 months**. Year-to-date flows into U.S. spot Bitcoin ETFs also provide context for this outlook. The funds had seen **$5.8 billion in net outflows** year to date as of July 13, but by the end of September, total year-to-date flows had turned into **$800 million in net inflows**. ### Regulatory concerns eased, Treasury move provided support According to Citi, the negative sentiment caused by the U.S. Senate’s failure to **advance the CLARITY Act on September 15** eased after subsequent regulatory announcements from the U.S. Securities and Exchange Commission (SEC). Bitcoin also rose more than 10% by the end of September after the bill stalled in the Senate. The bank also cited the **U.S. Treasury’s move to buy back long-term bonds** among the developments supporting momentum in cryptocurrencies. In Citi’s assessment, the move helped crypto emerge from months of stagnation during which it lagged behind other risk assets.