Citi also raised its 12-month target for ether from from $2,240 to $3,028.
Bitcoin trades near $84,000 after beating stocks and gold in September, with traders watching $85,513 resistance and $81,602 support.
STX is the other massive gainer out of the largest 100 alts.
The majority of crypto analysts believe the BTC bull market has commenced. But that might not be the good news everyone is expecting.
Bitcoin and Ethereum held firm on Thursday after Citigroup raised its 12-month forecasts for both assets, adding another Wall Street endorsement to a crypto rebound that has gathered pace since July. Citi lifted its Bitcoin target to $113,000 from $82,000 and its Ether forecast to $3,028 from $2,240, citing stronger market activity, an improving macro backdrop and the return of exchange-traded fund inflows. Bitcoin traded around $84,000, while Ethereum was near $2,700. The new targets imply roughly 35% upside for Bitcoin and about 12% for Ethereum, but the rally still faces high bond yields, inconsistent ETF demand and unresolved US regulation.
The surge in Bitcoin ETF inflows and price highlights growing investor confidence, but future stability hinges on regulatory and macroeconomic factors. Bitcoin ETFs draw $6B in Q3 as BTC price rises nearly 43%.
Bitcoin gained 42.71% in Q3, its best third-quarter performance since 2017, as US spot ETFs attracted $6.34 billion in net inflows.
The Japanese yen has fallen past 158 against the dollar after traders cut expectations for another Bank of Japan rate hike this month, keeping yen funded carry trades attractive for now while raising the risk of another abrupt reversal that
Bitcoin edged up 0.4% to slightly above $83,700 during Thursday's Asian trading session. This followed Wednesday's action when a milder-than-anticipated U.S. inflation reading briefly drove the leading cryptocurrency to $85,500.
A Bitcoin Policy Institute paper says MSCI's proposed “non-operating company” rule could remove Strategy and Metaplanet from its indexes and may have roots in an earlier crypto treasury review.
Bybit's 40th proof-of-reserves report shows $19.6B in covered assets, with BTC and ETH user balances up while USDT fell 11.46%.
Bitcoin's median October return was 12.73%, with the strongest gain in October 2013 and the steepest loss in October 2014.