Analyst says bitcoin's $100,000 level is 'being cemented as the base price' for investors

Despite intensifying geopolitical tensions and lingering macroeconomic uncertainty, bitcoin has held steady above the psychologically critical $100,000 mark for over five weeks, defying broader market stagnation and reinforcing its role as a macro hedge.

Elliot Johnson, CEO of the newly launched Bitcoin Treasury Corporation, pointed to BTC's strength amid the Israel-Iran conflict and a hawkish-but-not-disastrous FOMC update this week.

"Bitcoin has remained incredibly resilient over the past week," Johnson stated in an email, calling the psychologically important $100,000 level now "firmly" established.

The U.S. Federal Reserve held rates steady on Wednesday, but its updated dot plot now projects just one rate cut in 2025 — less dovish than markets had hoped. Analysts expect the wait-and-see stance to prolong sideways action in equities and bonds, as The Block previously reported .

"Its recent strength is a testament not only to its resilience as a safe-haven asset, but also to its growing role as an alternative to the devaluing US dollar and a legitimate long-term treasury asset," he said.

Johnson's Bitcoin Treasury Corporation aims to help institutions allocate bitcoin as a long-term treasury reserve. While the surge in crypto treasury firms has raised fears that their leveraged positions could prompt fresh liquidations in a downturn, some say the associated risks are more contained than those behind previous market crashes.

Michael Saylor's Strategy, the largest corporate holder of bitcoin, bought another $1.05 billion worth of BTC last week, a sign that analysts say shows institutions remain in aggressive accumulation mode.