Bitcoin Climbs Toward Seven-Week High Despite War and Tariff Fears

Bitcoin is rising again — and it's ignoring some scary headlines to do it.

Bitcoin (BTC), the world's largest cryptocurrency, climbed toward $67,000, approaching its highest price in seven weeks. What's surprising is that this happened even as bad news piled up around the world.

Normally, scary news makes investors nervous. When people are worried, they usually sell risky investments like crypto and stocks (this behavior is called "risk-off"). But this time, markets stayed calm. Here's what they brushed off:

• US-Iran conflict: Iran attacked facilities in Bahrain in response to US strikes, and a key oil shipping route (the Strait of Hormuz) stayed closed.
• Rising oil prices: WTI crude oil (a benchmark price for US oil) neared $85 per barrel, its highest in over a month.
• New trade tariffs: President Trump reportedly plans new 10% tariffs (taxes on goods coming from other countries), following 50% tariffs already placed on Canada.

So why didn't prices drop? Traders believe the situation will end well. As one analyst put it, "Markets are pricing in peace" — meaning investors expect the conflicts to calm down.

Not everyone agrees, though. JPMorgan CEO Jamie Dimon warned that markets may be treating these risks too lightly. And trader Keith Alan pointed out that even though Bitcoin recently formed a "golden cross" (a technical chart signal where a short-term average price crosses above a longer-term one, often seen as bullish), the bigger picture might still be a bear market (a period of falling or weak prices).

Key price levels to watch:

• $67,250 — little resistance below this point, meaning Bitcoin could rise easily up to here
• $69,720 — a major long-term average (the 21-week SMA) and near Bitcoin's 2021 record high

Bottom line: Bitcoin is showing strength, but experts remain divided on whether this rally will last or fade.

This is an AI-generated summary. Read the original article at: https://cointelegraph.com/markets/bitcoin-nears-seven-week-high-as-stocks-ignore-iran-strikes-trump-10-tariff-plans?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound