Citi Predicts Bitcoin Could Hit $135K by Year-End

Citi projects Bitcoin may reach $135K by year-end, with a bullish outlook up to $199K, driven by ETFs, adoption, and macro trends.

Aurelien Sage July 26, 2025 - 3:40 AM

Price Prediction

Citi sets $135K as base case for Bitcoin by end of 2025
Bullish scenario targets $199K, citing ETF inflows and adoption
Macro trends and user growth support positive outlook

Wall Street banking powerhouse Citi has made headlines with a bold forecast for Bitcoin. According to their latest research, Citi believes Bitcoin could reach $135,000 by the end of this year under its base case scenario. In a more optimistic bull case, the price could surge as high as $199,000.

This bullish forecast is driven by three key factors: rising demand from spot Bitcoin ETFs, increasing user adoption, and favorable macroeconomic conditions. The bank’s outlook signals growing institutional confidence in crypto’s long-term potential.

ETF Demand and Adoption Fuel Momentum

The recent approval and launch of multiple Bitcoin ETFs have changed the investment landscape. These products allow traditional investors to gain exposure to Bitcoin without directly holding it. Citi highlights that this new gateway is drawing billions of dollars into the market, pushing demand significantly higher.

User growth is another major catalyst. With more retail and institutional participants entering the space, the network effect is growing stronger. Citi believes this increase in active users and wallet addresses reflects a broader shift towards mainstream adoption.

🔥 UPDATE: Wall Street giant Citi forecasts $BTC to hit $135K by year-end base case, bull case sees $199K, fueled by ETF demand, user growth, and macro trends. pic.twitter.com/6gmCFpYtNy
— Cointelegraph (@Cointelegraph) July 25, 2025

Macro Trends Support Bullish Outlook

Beyond crypto-specific factors, Citi also points to macroeconomic trends that could favor Bitcoin. With inflation concerns lingering and interest rates potentially stabilizing or dropping, Bitcoin is increasingly seen as a hedge and alternative store of value.

Citi’s base case of $135K assumes steady ETF inflows and consistent macro support. The bull case of $199K is based on aggressive adoption and accelerating ETF growth. While these targets are ambitious, they reflect the growing legitimacy and financial integration of Bitcoin.

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