The bullish backdrop strengthened after Citi raised its 12-month Bitcoin forecast to $113,000, up sharply from its previous $82,000 target. The bank cited stronger crypto activity, improving macro conditions and renewed ETF inflows as key reasons for the upgrade.
Bitcoin also gained after softer-than-expected U.S. inflation data reduced immediate fears of another Federal Reserve rate hike. BTC recently traded near $85,380, roughly 1.4% higher over 24 hours.
$87K Remains the First Major Test
The first trigger is technical.
Bitcoin recently reached roughly $87,000 before pulling back, making the $85,000-$87,000 area the clearest resistance zone for bulls.
Coinpaper previously highlighted the same $85K–$87K resistance range after BTC failed to extend its September rebound.
A convincing close above $87,000 could put $90,000 back in focus. Clearing that psychological level would significantly strengthen the case for another run toward $100,000.
ETF Flows Could Provide the Fuel
Institutional demand remains the second major catalyst.
Spot Bitcoin ETFs attracted more than $2.2 billion across four consecutive sessions in late September before flows briefly cooled. We reported how ETF demand returned as Bitcoin recovered above $81,000.
If another sustained inflow streak develops, ETF purchases could absorb enough available supply to support a breakout above $87,000.
Citi’s forecast specifically identifies ETF demand as one of the factors supporting its more bullish Bitcoin outlook.
