Jurrien Timmer, Fidelity’s global macroeconomics director, has reiterated a bullish technical case for bitcoin, pointing to a possible double bottom that would open a path toward $100,000 if the price clears resistance at $80,554, Cointribune reported.
The call arrives as bitcoin returns to contact with the $80,000 area. In analysis published on September 25, Timmer’s chart shows two bottoms at $60,033 and $57,742, with peaks near the resistance at $82,807 in May and $82,266 at the latest high.
Also read: Bitcoin ETFs post four-day outflow streak as BTC fails to hold $65,000
Key facts
- Timmer’s chart places horizontal resistance for bitcoin at $80,554, a break of which he says would confirm a double bottom pattern.
- The gap between the $57,742 bottom and the $80,554 resistance is $22,812, which added to the breakout level gives a theoretical target near $103,400; using May’s $82,807 peak, the projection rises to around $107,900.
- US spot bitcoin ETFs recorded $134 million in inflows on September 25, according to Wu Blockchain data, the seventh consecutive day of inflows, with BlackRock’s IBIT contributing.
- On Kalshi, the contract tied to bitcoin crossing above $100,000 in 2026 traded at 39 cents, down from 41 cents the day before, while the $110,000 contract traded at 20 cents.
- The September contract on a break above $87,500 fell from 35 to 22 cents in twenty-four hours.
From caution to a measured target
Timmer’s framing has shifted over roughly nine months. He had approached 2026 cautiously, describing it as a year of respite after a down phase and placing support between $65,000 and $75,000. The market fell past that zone, dropping to $60,000 in early February and $57,800 in late June. His updated reading keeps $100,000 as the most cautious version of the technical case.
Bitcoin closed the week of September 14 at $81,178 and then moved near $84,000. A weekly close at that level would be the highest since the week of January 19, which ended at $86,670. PlanB’s scenario for October also depends on the market holding above $80,500, so both analysts treat the same threshold as the level to watch.
Also read: BlackRock's IBIT Buys 1.97K BTC as ETF Inflows Hit Six Sessions
Why it matters
Prediction markets and spot flows now point in different directions, leaving traders without a single dominant signal. On one side, short-term Kalshi contracts have cut their expectations on specific price levels. On the other, ETF inflows have continued daily, pointing to underlying spot demand. For readers tracking positioning, the divergence matters more than either input alone: a breakout would validate the double bottom reading, while further cooling in short-dated contracts would suggest the market is not yet pricing a sustained move higher.
What to watch
The immediate test is whether bitcoin delivers a sustained breakout above $80,554, and whether weekly closes hold near the $84,000 area. ETF inflow data, published daily, will show whether spot demand persists beyond the current streak; Kalshi pricing on the 2026 $100,000 contract will show whether short-term caution spreads.
This is not financial advice, and cryptocurrency markets are volatile and uncertain.
Reported by cointribune.com.
Source: Cointribune
