Citi predicts Bitcoin going back to $113,000. Here’s what the buying data shows

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Citi's $113,000 Bitcoin target would require a roughly 36% rise from the Oct. 7 reference price, keeping it below its previous record. The harder question is whether buying can sustain that recovery. Onchain analytics firm Glassnode's fresh analysis shows new money entering the market alongside unusually thin trading.

The bank raised its twelve-month Bitcoin forecast from $82,000 on Oct. 1, citing stronger activity, supportive macro conditions and renewed ETF inflows, Reuters reported. Citi also forecast $5 billion of crypto inflows over the following year as advisers and brokerages gradually increase allocations. That horizon points to approximately autumn 2027.

The calculation starts with the Bitcoin price quote on Oct. 7: $83,085. Reaching $113,000 requires a 36% gain, equivalent to approximately 2.6% compounded monthly over twelve months.

The target also sits about 10.5% below Bitcoin's prior $126,198.07 record. It would therefore be a recovery within a previously traded price range.

Holding the page's rounded circulating supply of 20.09 million BTC fixed, the target implies approximately $2.27 trillion in quoted market capitalization, an increase of about $601 billion. This approximate valuation comparison excludes subsequent coin issuance.

Market capitalization multiplies the latest price by circulating supply, revaluing coins that have stayed in holders' wallets. The $601 billion increase describes that change in valuation; the cash needed to move prices depends on actual trading.