Key Takeaways
- Citigroup set a 12-month base price target of $143,000 for Bitcoin fueled by ETF demand.
- Institutional interest through spot Bitcoin ETFs is driving bullish projections for BTC.
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Citigroup analysts set a base case price target of $143,000 for Bitcoin over the next 12 months in a newly published report, driven by expectations of renewed demand for spot exchange-traded funds and supportive macroeconomic conditions.
The report identifies $70,000 as a key support level, with the potential for a sharp rally from current levels as institutional capital continues to flow through spot Bitcoin ETFs.
Under a bear case scenario, the analysts see Bitcoin falling to $78,500 in the event of a global recession. In a more optimistic scenario, the report projects a price of $189,000, driven by accelerating investor demand.