Bitcoin to $125K? Wall Street Is Betting Big Again

Bitcoin is stuck around the mid-$80,000s.

After a spectacular rebound of more than 40% from its recent lows, BTC is struggling to break through the $87,000 area. Rising Treasury yields and a stronger dollar have recently taken some heat out of the rally.

But here is the surprising part:

Wall Street's Bitcoin targets are getting much higher.

Citi Just Turned Bullish Again

Citigroup has raised its 12-month Bitcoin target to $113,000, up sharply from its previous $82,000 forecast.

Citi points to three major drivers: stronger crypto market activity, a more supportive macro backdrop and renewed ETF inflows. The bank also expects around $5 billion of Bitcoin ETF inflows over the next 12 months.

And Citi's bullish scenario goes even further — above $150,000.

That's a big call when Bitcoin is still struggling to hold above $85,000.

Bernstein Sees Even More Upside

Citi is not the only major institution looking higher.

Bernstein expects Bitcoin to reach around $125,000 by the end of 2026 and $150,000 by mid-2027 in its base case.

Its bullish scenario is far more aggressive, with Bitcoin potentially reaching $200,000 by mid-2027 if institutional capital accelerates into the so-called “debasement trade.”

Standard Chartered is more conservative, with a $100,000 target for 2026.

So despite different assumptions, the direction is broadly similar: major institutions still see meaningful upside from current levels.

But Bitcoin Still Has Something to Prove

The bullish forecasts come with an important condition: the money has to keep coming in.

U.S. spot Bitcoin ETFs attracted about $2.6 billion in September, but recent flows have become less consistent. One market analyst said stronger ETF demand is still needed to confirm a move toward $90,000–$93,000.

Meanwhile, Treasury yields remain a major obstacle. Higher yields and a stronger dollar have recently pressured Bitcoin, showing that crypto is still highly sensitive to the broader macro environment.

That leaves Bitcoin at an interesting crossroads.

$87,000 is the immediate battle. $90,000–$93,000 is the next major test. And if those levels finally give way, the much bigger institutional targets suddenly start looking less distant.

The question is no longer whether Wall Street sees upside.

The question is whether Bitcoin can finally give the market a reason to believe it.