Fidelity's Timmer sees Bitcoin double bottom pointing to $100,000

Key points

• Timmer says a break above $80,000 would confirm a double bottom targeting $100,000.
• The pattern's troughs are $60,033 and $57,742, both below the $65,000 support he flagged in December.
• A textbook projection from the $57,742 low to the $80,554 line gives roughly $103,400.
• Kalshi traders price a 39% chance of Bitcoin topping $100,000 in 2026, down from 41% a day earlier.
• US spot Bitcoin ETFs took in $134m on 25 Sept, a seventh straight day of inflows led by BlackRock's IBIT.

Fidelity's Jurrien Timmer says Bitcoin is testing the $80,000 ceiling of a double bottom that points to $100,000, a reversal of the cautious stance he took nine months earlier. The director of global macro at Fidelity posted a weekly chart late on Friday with a one-line thesis, according to Bitcoin.com News. He wrote that Bitcoin looks particularly interesting as it challenges key resistance at $80,000, and that a break would confirm a double bottom targeting $100,000.

Timmer went into 2026 warning that Bitcoin may have ended another four-year cycle halving phase, in price and time. Days later he suggested 2026 could be Bitcoin's year off, noting that crypto winters have historically lasted about a year. At that point he placed support for the asset in the $65,000 to $75,000 range.

The first half of that call held up, but the support band did not. Bitcoin fell to $60,000 in early February and to $57,800 in late June, well below the floor Timmer had flagged. Nine months on, his tone has flipped, with Timmer saying he senses a new four-year cycle bull market is underway.

Timmer reverses his stance

The chart behind the call uses data through 20 Sept and labels two troughs at $60,033 and $57,742. A horizontal line runs across the $80,554 level, with the May high at $82,807 and the latest swing at $82,266 pressing against it. The all-time high of $126,251 sits at the top left of the chart.

The arithmetic supports the target, with room to spare. A double bottom's textbook target adds the depth of the pattern to the breakout level. From the $57,742 low to the $80,554 line is $22,812, which projects to roughly $103,400. Measured from the $82,807 May high instead, the target stretches to about $107,900, making Timmer's $100,000 the conservative version.

Bitcoin is already testing the line. It closed the week of 14 Sept at $81,178 and was trading near $84,000 as of the article's publication. A weekly close there on Sunday would be the highest since the week of 19 Jan, when Bitcoin finished at $86,670. Bitcoin.com News also reported this week that PlanB's October path to $100,000 depends on Bitcoin holding above $80,500.

The double bottom maths

Prediction markets are less excited. Kalshi's 2026 Bitcoin market prices a move above $100,000 this year at 39 cents, down from 41 cents a day earlier and below 46%. The $110,000 contract trades at 20 cents, while Kalshi's September contract on Bitcoin topping $87,500 fell to 22 cents from 35 cents in 24 hours. Spot demand looks firmer: US spot Bitcoin ETFs took in $134m on 25 Sept, their seventh straight day of inflows, led by BlackRock's IBIT.

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