Bitcoin Nears Seven-Week High Despite Iran War and Tariff Threats

Bitcoin climbed toward $67,000 today, brushing off escalating US Iran tensions and looming trade tariffs as crypto tracked resilient gains across US stock markets.

$BTC approached $67k during Tuesday’s Wall Street open, closing in on levels not seen in seven weeks. The upward momentum carried through the day despite a backdrop that would typically favor risk-off sentiment among traders.

Geopolitical Tensions Fail to Slow the Rally

The US-Iran conflict escalated further as Iran struck Amazon facilities in Bahrain in retaliation for US strikes, while the Strait of Hormuz remained closed to oil shipping. That pushed WTI crude oil prices to their highest level in over a month, nearing $84 per barrel.

Bear Market Warning Still in Place

Bear markets don’t always look like bear markets on shorter timeframes, adding that Bitcoin’s broader downtrend would only face a real challenge once price reclaims its 21-week simple moving average. Until that happens, the bear market structure remains technically intact.