Bitcoin is accomplishing what once felt unimaginable at the onset of this quarter and earlier in the year. It is currently beating gold during a period when climbing yields are suppressing the precious metal, while its price trajectory signals a potential breakout toward $100,000.
The traditional safe-haven asset dropped by nearly 4% on Monday as longer-term yields climbed to their highest marks since 2007, pushing up the U.S. dollar index. The DXY has advanced 2.7%, moving from 98.78 to nearly 101.50 since September 9.
Conversely, BTC declined by a mere 1% on Monday, briefly dipping to lows around $82,500 before recovering to change hands near $84,000 at the time of publication.
This strength extends well beyond 24-hour price movements. BTC has jumped more than 40% throughout the current quarter, vastly outpacing gold, the S&P 500, and all other primary asset classes.
BTC’s chart performance appears even more compelling, clearly showing that despite upward momentum cooling off, prices have maintained levels in the $80,000 range, remaining above the highs seen in May.
Within this technical posture lies the trigger for a potential advance to $100,000.
BTC pushing past $80,000 has activated a “double-bottom breakout,” a chart pattern that confirms a bullish market structure and clears the path for a rally to $100,000, according to Fidelity Investments Director of Global Macro Jurrien Timmer.
“Bitcoin is looking particularly interesting here as it challenges key resistance at $80k. If it breaks it will confirm a double bottom targeting $100K,” Timmer shared on X on Friday.
A double-bottom formation resembles the letter W on a price graph. The asset’s value drops to a trough, rebounds, pulls back to roughly that same threshold, and subsequently climbs again. These twin lows illustrate buyers entering the market at an identical price point on two separate occasions. The interim peak positioned in the middle of the W serves as resistance. A breakthrough above that barrier implies that sellers have exhausted their momentum and a fresh bull market might be underway.
Timmer’s chart plots bitcoin’s two yearly lows at $60,033 and $57,742, accompanied by a central peak sitting near $82,800.
Chart formations do not offer absolute certainty. Breakout attempts frequently fail, resulting in rapid reversals that trap market participants who chased the upward movement.
Nonetheless, this optimistic configuration aligns with options traders positioning themselves for additional gains. The $90,000 call contract stands as the leading bitcoin options wager on the Deribit exchange, boasting $2.45 billion in open interest. The $95,000 call trails closely with $2.33 billion, while the $100,000 call accounts for $1.79 billion. A call option grants the holder the privilege to purchase at a predetermined price and yields a profit when the underlying market climbs past that threshold.
At the same time, derivatives positioning can pivot rapidly if macroeconomic trends shift unexpectedly. Traders should remain vigilant!
What’s trending
- Analysts see 10-year Treasury yield hitting 6%. Bitcoin bulls shouldn’t panic: The 10-year Treasury yield, which influences borrowing rates across the American economy, has climbed for months, prompting certain analysts to project a rise to 6%, levels last observed in 2000. That might appear alarming for bitcoin holders, but it is not necessarily detrimental.
- Bitcoin is on track to shatter a major decade-long streak as September gains surge: Since 2013, every prior winning August has transitioned into a losing September. With only two calendar days left, a positive monthly close would shatter that historical trend and secure three consecutive months of gains for bitcoin, stretching from July through September.
- U.S., Iran hold separate mediator talks as Mideast oil exports hit war-time high: American and Iranian authorities reportedly conducted separate indirect discussions via intermediaries on Monday, breathing new life into diplomatic efforts to resolve seven months of hostilities as Tehran weighs a revised ceasefire proposal while Middle Eastern crude shipments touch peak levels not seen since the conflict began.
- Anthropic warns AI may pose ‘existential risks’ to humanity’ in IPO filing: Anthropic intends to caution prospective shareholders that sophisticated artificial intelligence systems could present severe or existential threats to human civilization, marking an unprecedented warning from an enterprise aiming to commercialize that very innovation.
The accompanying chart displays bitcoin’s weekly price fluctuations using traditional candlestick visual formatting.
Values recently broke above $82,000, validating the double-bottom breakout highlighted by Fidelity strategist Timmer. This formation signifies that the prior downward trend has concluded and an aggressive new rally has commenced.
Originally published at https://www.coindesk.com/daybook-us/2026/09/29/bitcoin-outperforms-gold-usd100-000-surge-in-play.
