Timmer sees bitcoin double bottom pointing to $100,000 target
Fidelity's Jurrien Timmer says bitcoin could reach $100,000 if it clears resistance at $80,554, as ETF inflows continue and prediction markets cool.
Key points
- Timmer's chart shows two bottoms at $60,033 and $57,742, with resistance at $80,554.
- The gap between the $57,742 bottom and resistance gives a theoretical target near $103,400, or about $107,900 using May's $82,807 peak.
- US spot bitcoin ETFs took in $134 million on September 25, a seventh straight day of inflows, per Wu Blockchain data.
- Kalshi's 2026 $100,000 contract traded at 39 cents, down from 41 cents, while the $110,000 contract sat at 20 cents.
- Bitcoin closed the week of September 14 at $81,178 and later traded near $84,000.
Fidelity's global macroeconomics director Jurrien Timmer has repeated a bullish technical case for bitcoin, pointing to a possible double bottom that could open a path to $100,000 if the price clears resistance at $80,554, Cointribune reported. The call comes as bitcoin returns to contact with the $80,000 area, according to the 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. He places horizontal resistance at $80,554, and says a break of that level would confirm the double bottom pattern.
The distance between the $57,742 bottom and the $80,554 resistance is $22,812. Added to the breakout level, that gives a theoretical target near $103,400, while using May's $82,807 peak lifts the projection to around $107,900.
A double bottom setup
Timmer's framing has shifted over roughly nine months. He had approached 2026 cautiously, calling it 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.
Spot flows have been supportive. 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. 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.
Prediction markets point the other way. 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.
Targets and prior caution
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. The immediate test is whether bitcoin delivers a sustained breakout above $80,554 and whether weekly closes hold near $84,000. Daily ETF inflow data will show whether spot demand persists, and Kalshi pricing on the 2026 $100,000 contract will show whether short-term caution spreads.