Citi Sees $113K for Bitcoin and $3,028 for ETH as Whale Holdings Diverge

• Citi raised its twelve-month Bitcoin price target to $113,000, and its Ethereum price forecast to $3,028, citing stronger activity and renewed ETF inflows
• Ali Charts reported that Bitcoin whale holdings fell by 30,000 BTC, while Ethereum whales added roughly 60,000 ETH over the same week
• Bitcoin averaged a 19.92% October gain across 2013–2025, although it fell 3.69% in October last year

October’s reputation for Bitcoin gains is meeting a mixed picture among large holders. Citi has raised its Bitcoin price forecast and its Ethereum price target, citing stronger activity and renewed ETF demand. Yet recent whale figures show Bitcoin balances falling while Ethereum holdings grow. With traders watching for another “Uptober,” the bank’s bullish outlook raises a timely question about how much fresh buying will follow the recovery into the final quarter of the year.

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Citi Raises Bitcoin and Ethereum Price Targets by More Than 35%

Citi lifted its twelve-month Bitcoin price target to $113,000 from $82,000 and its Ethereum price forecast to $3,028 from $2,240. The bank pointed to increased cryptocurrency activity, supportive macroeconomic conditions, and a resumption of ETF inflows.

Citi’s Bitcoin price prediction represents a 37.8% increase from its previous forecast. Ethereum’s target rose 35.2%. Those figures measure the revisions to the bank’s estimates, rather than potential returns from current prices.

Bitcoin ETF inflows are one reason for the upgrade. Investment funds provide a source of demand beyond the investors tracked in whale charts, allowing fund buying and declining balances among some large holders to occur together.

But Citi’s forecasts cover twelve months. The wallet changes capture a much shorter stretch, offering a look at recent positioning rather than a verdict on the bank’s targets.

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Bitcoin Whales Pull Back as Ethereum Holdings Increase

In his recent posts, analyst Ali Charts reported that Bitcoin whales’ holdings fell by roughly 30,000 BTC over the preceding week. He valued that reduction at about $2.52 billion.

Ethereum whales added approximately 60,000 ETH during the same period, worth around $162 million, according to the analyst.

These changes do not establish a direct shift from Bitcoin into Ethereum. Transfers between addresses and movements between holding brackets can affect the balances. Still, the reported divergence suggests the tracked groups were taking different approaches during a largely sideways week.

October’s history adds another layer. The CoinGlass table shows an average October Bitcoin price return of 19.92% across 2013–2025, with gains in ten of those thirteen years. It also records a 3.69% decline in October 2025.

This record explains the “Uptober” enthusiasm, but last year offers a recent reminder that the month can disappoint. Citi expects further gains over a longer horizon. For now, the whale figures show that some large Bitcoin holders are reducing exposure as October begins.

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