Citi Lifts Bitcoin Target, SEC Moves on Custody, CME Eyes BCH Futures

Citigroup raised its 12-month Bitcoin price target to $113,000 from $82,000, a roughly 38% increase, while also lifting its Ethereum target to $3,028 from $2,240. The bank cited stronger crypto market activity, a more supportive macroeconomic backdrop, and a resumption of spot ETF inflows as the key drivers behind the upgrade. Spot Bitcoin ETFs recorded approximately $6.34 billion in Q3 inflows, including $2.65 billion in September alone, marking the asset class's best September in over a decade.

Bitcoin was trading near $84,700 on Sunday after another failed attempt to hold above $87,000, leaving BTC caught between improving futures demand and persistent selling near resistance. The immediate trading range sits between $82,000 and $86,000, while $88,000 remains the more critical daily breakout level. A confirmed move above $88,000 would strengthen the case for an advance toward $90,000 and potentially $96,000.

SEC Proposes Self-Custody Rule as CME Plans BCH Futures

The SEC proposed a new crypto custody framework for registered investment advisers and regulated funds, allowing self-custody in some cases and the use of state trust companies as qualified custodians. The proposal is not final and will go to public comment first. SEC Chair Paul Atkins and Commissioner Mark Uyeda credited outgoing Commissioner Hester Peirce with helping build what they called a workable digital-asset framework, checking off the last major item on the agency's crypto regulatory agenda.

On the altcoin front, CME Group announced plans to list Bitcoin Cash futures on October 19 in standard 250 BCH and micro 25 BCH contract sizes, pending regulatory review. Grayscale is separately seeking to convert its Bitcoin Cash Trust into an NYSE Arca ETF under the ticker BCHG, though no approval or listing date has been confirmed. Ethereum's Glamsterdam upgrade is also set to hit its first public testnet on October 6, giving the broader market additional catalysts to watch heading into mid-month.