Bitcon Price continued its strong recovery on Thursday as it approached a critical resistance at $120,000. It has increased by more than 10% from the lowest level in September.
summary
- According to Citigroup, Bitcoin prices could jump to $231,000 over the next 12 months.
- Such a movement is a 93% jump from the current level.
- Bitcoin benefits from increased institutional demand in exchange and reduced supply.
Citi predicts that Bitcoin could reach $232,000
Wall Street analysts are bullishing with Bitcoin (BTC) as demand continues to increase. In a client survey, Citigroup provided three scenarios for the coin.
The basic case for banks is that Bitcoin prices will increase by 50% to $181,000 over the next 12 months. In the most optimistic scenario, the bank believes the coins have reached $231,000 in this period.
Citi will introduce a new 12-month price target for digital assets.
Bare Base Bull
BTC $82K $181K $231K
ETH $2K $5.4K $7.3K pic.twitter.com/alpwpak2yw– Matthew Sigel, Recovering CFA (@matthew_sigel) October 2, 2025
Citi believes the bullish incident is attributed to continued demand from American investors and financial advisors. In the basic case, the company also expects Ethereum (ETH) prices to jump to 5.4K over the next 12 months.
City joined other Wall Street companies to provide bullish Bitcoin price forecasts. For example, BlackRock, which runs the largest Crypto ETF, predicts that the coin will jump to $700,000 in the long term.
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Similarly, Ark Invest founder Cathie Wood believes it’s jumping to more than $2.4 million in the long run.
The bullish case of Bitcoin is that most institutional investors are buying it. This explains why the total ETF inflow exceeded $54 billion. This rise in demand coincides with a significant decline in Bitcoin supply in exchanges and an increase in the difficulty of mining.
Bitcoin prices are also benefiting from the transition to safe haven assets, as they are considered a digital version of gold. In a white papille ring earlier this year, BlackRock noted that the BTC will always beat other traditional assets after major crises, such as the Covid pandemic and the beginning of war in Ukraine.
It also promoted it as a great diversification device due to its low correlation with the S&P 500, Nasdaq and other assets.
BTC price technology analysis
Bitcoin Price Chart | Source: crypto.news
The daily time frame chart shows that Bitcoin prices have rebounded in the past few weeks and are currently hovering at the highest level since August 15th.
It exceeded a significant resistance level at its 50-day exponential moving average of $113,830.
Most importantly, the coin formed a bullish flag pattern consisting of vertical lines and descending channels. This pattern often leads to more profits over time.
So the most likely scenario is where the coin first jumps to a high of $124,200 from the previous day, followed by a psychological level at $125,000. The Bitcoin price then goes up to the extreme overshoot level of the Murrey Math Lines tool at $131,250.
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