Citi says Galaxy Digital could benefit from crypto market rebound

Citi expects Galaxy Digital to benefit from a rebound in the cryptocurrency market and easing regulatory uncertainty, according to Crypto Briefing. Crypto Briefing said Citi had earlier raised its 12-month Bitcoin price target to $113,000 from $82,000 and its Ethereum target to $3,028 from $2,240 on Sept. 30. The outlook reflects gains of about 40% in Bitcoin and 68% in Ethereum over the previous three months, along with a recovery in investment inflows. Citi also expects cryptocurrency inflows through investment advisers and brokerages to reach about $5 billion over the next 12 months, an outlook it said could be positive for Galaxy Digital.