Fidelity Affirms Bitcoin Early Bull Phase Near $80,500 Neckline

Bitcoin is showing early bull-market characteristics according to Fidelity’s Jurrien Timmer, testing the $80,500 head-and-shoulders neckline with a monthly Bollinger Bands squeeze signaling rising volatility. The bullish institutional stance follows White House adviser Patrick Witt’s May 20 statement that a U.S. Strategic Bitcoin Reserve announcement is imminent, with government holdings estimated at 198,000–328,000 BTC. Mixed sentiment earlier included Union Investment warnings on stablecoin reserves and World Gold Council CEO David Tait’s “Bitcoin is going to zero” remark, while Michael Saylor reiterated 30% annual returns and a $13 million price target by 2045 as BTC traded near $77,181.