Bitcoin (BTC) Price Targets $100K as Double Bottom Formation Takes Shape

Key Takeaways

• BTC surged to $87,392 this week, marking its strongest level since late January, before consolidating near a critical demand zone.
• Market analysts from Bitfinex identify the $85,000–$86,500 region as the pivotal support area that must hold for bullish continuation.
• Spot Bitcoin ETFs recorded $2.31 billion in net inflows across four consecutive trading days through September 22.
• Corporate treasuries led by Strategy and Strive acquired 2,305 BTC within seven days, surpassing total public company purchases from the previous quarter.
• Research from K33 suggests Bitcoin’s cycle bottom has already formed, though Nexo cautions about declining volume and leverage concerns.

Bitcoin climbed to $87,392 during the week, achieving its peak price point since the final days of January. The digital asset subsequently retraced into a heavily accumulated zone spanning $85,000 to $86,500.

Bitcoin (BTC) Price

According to Bitfinex’s research team, maintaining this price corridor represents the critical challenge for sustaining upward momentum. Approximately 633,000 BTC last transacted within this range, establishing it as the densest concentration of buyer acquisition data throughout the current uptrend.

During a four-session stretch, nearly 2.95 million BTC transitioned into profitable territory as prices advanced. Holdings concentrated between $80,500 and $82,500 decreased from 252,000 BTC to 170,000 BTC per $1,000 increment.

Technical analyst Ali Charts identified the formation of a double bottom structure, with the $82,500 mark serving as the critical neckline that needs to function as support. Should this threshold maintain, Ali Charts projects a price objective of $100,000.

U.S.-listed spot Bitcoin ETFs attracted $999 million on September 21, followed by $714.7 million the next day. This consecutive two-day accumulation represented the strongest period since October 2025.

Over the four-day window concluding September 22, these investment vehicles accumulated $2.31 billion, equivalent to approximately 27,900 BTC daily based on prevailing market prices. This surge followed a $450.4 million exodus on September 15, representing the heaviest single-day redemption since June.

Institutional and Treasury Accumulation Accelerates

Strategy executed a purchase of 950 BTC valued at $75.7 million throughout the week concluded September 20. This acquisition elevated the company’s aggregate position to 846,000 BTC.

Strive accumulated 1,355 BTC during the September 14-18 period. Combined, these two entities purchased 2,305 BTC within a single week, exceeding the total accumulated by all publicly-traded corporate treasuries throughout the preceding 90 days.

Bitfinex’s analysis revealed that both ETF holders and corporate treasury participants simultaneously achieved profitability this week for the first time since January. The average acquisition cost for ETF products hovers around $86,000, while corporate treasury positions average approximately $80,500.

Market participant Ted Pillows indicated that Bitcoin’s sustained trading above critical technical thresholds validates the establishment of a cycle low. Ted Pillows anticipates an 8% to 10% retracement to eliminate overleveraged long positions.

The percentage of supply in profitable positions climbed from 63% on September 17 to 78.2% by September 22. Bitfinex analysts emphasize maintaining levels above 75% throughout any initial corrective phase.

Bitcoin’s MVRV (market value to realized value) metric registered 1.62 on September 22, trailing its historical mean of approximately 1.8. Bitfinex correlates this average with a corresponding price near $95,000 based on current realized value metrics.

Divergent Perspectives from Market Observers

Vetle Lunde from K33 Research noted that the present drawdown cycle has demonstrated both reduced duration and magnitude compared to historical patterns. Lunde suggests Bitcoin retains significant potential to align with the performance trajectories of gold and equity markets.

Nexo adopts a more conservative stance, highlighting diminishing trading volumes and contracting market participation breadth. The research firm warns that escalating leverage ratios could expose the rally to momentum disruption.

Daniela Hathorn from Capital.com identifies resistance barriers at the $87,000 to $88,000 range, with $90,000 representing the subsequent technical obstacle. Hathorn designates the $84,000 to $85,000 zone as the primary support layer requiring monitoring.

Bitfinex positions the upcoming challenge near Bitcoin’s annual opening price of $87,722. Sustained defense of the $85,000 to $86,500 corridor combined with persistent ETF capital inflows would establish the foundation for progression toward $90,000.

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