Bitcoin climbs past $86,000 as Citigroup lifts price target to $113,000
CIE News ·
Bitcoin traded above $86,000 following $102.7 million in spot ETF inflows, short liquidations, and revised bank forecasts ahead of US labor data.
Bitcoin (BTC) rose above $86,000 on October 2, 2026, reaching a 24-hour peak of $86,885.28 on Coinbase with a 3.67% daily advance, according to CryptoSlate. The market advance coincided with US spot Bitcoin ETFs logging $102.7 million in net inflows on October 1 alongside $135.47 million in futures liquidations, where roughly 91.13% involved short positions.
The recovery was accompanied by updated institutional projections, with Citigroup increasing its 12-month Bitcoin price target from $82,000 to $113,000 and lifting its Ethereum (ETH) target to $3,028. Pratik Kala of Apollo Crypto noted that market participants have been treating dips as buying opportunities following subdued sentiment.
Institutional desk Crypto Finance reported that spot ETF demand remains positive, although options activity reflects caution ahead of the US payrolls report. As reported by mitrade.com, Crypto Finance also observed that Bitcoin consolidated after an exceptionally strong third quarter and continues to face selling pressure near the $87,000 level.