Citi Raises Bitcoin Forecast After Strong Third Quarter

Citigroup raised its base-case Bitcoin price forecast to $113,000 from $82,000, analyst Alex Saunders said Thursday. He pointed to renewed ETF inflows and positive sentiment after Bitcoin’s strong third quarter.

Saunders said the forecast draws on activity, macroeconomic factors and ETF flows. Citi’s base case now assumes $5 billion in inflows over the next 12 months, compared with a flat outlook previously.

He also said ETF inflows resumed as Bitcoin moved above its 200-day moving average. Saunders cited debasement fears and SEC rulemaking following the failed Clarity Act as factors that helped crypto regain technical levels.

Bitcoin rose about 43% in the third quarter, its strongest quarter since 2024, but remained down about 4% year to date. As of 10:52 a.m. UTC Thursday, it traded at $83,928, up 0.03% over the previous 24 hours.

The Clarity Act failed a procedural Senate vote in September, falling short of the 60 votes required. Senate Democrats cited concerns about government ethics rules and presidential conflicts of interest, while Republican defections followed lobbying over stablecoin rewards.

Strategy CEO Michael Saylor called the bill’s rejection “a positive inflexion point for Digital Assets.”