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Bitcoin nears seven-week high as traders shrug off tariff and Iran risks

BTC/USD approached $67,000 and WTI crude neared $85 per barrel amid Strait of Hormuz closure and renewed tariff expectations.

Reported · Written up by our desk · Market Structure

Bitcoin edged toward seven-week highs as crypto prices tracked resilient US stocks, with BTC/USD approaching $67,000 at the Wall Street open, according to Cointelegraph, citing TradingView data. The report said bitcoin built on earlier gains with little sign of reversal despite macro conditions that would normally favor risk-off.

Cointelegraph linked the steadier trading mood to expectations that US Iran escalation and trade policy headlines would be resolved in markets’ favor. The same day, Iran reportedly struck Amazon facilities in Bahrain in response to US strikes, and the Strait of Hormuz oil route remained closed.

As a consequence of the heightened conflict, Cointelegraph said WTI crude rose to its highest level in more than a month, nearing $85 per barrel. The report also cited multiple outlets in saying US President Donald Trump plans to introduce new 10% international trade tariffs, following 50% measures imposed on Canada earlier this week.

While some market voices pointed to continued strength, Cointelegraph included caution from industry figures. It cited JPMorgan CEO Jamie Dimon warning that markets may be underpricing current risks, while other analysts debated bitcoin’s near-term path despite a “golden cross” between the 21-day and 50-day simple moving averages.

Latest closeWTI crude $79.00 ▼0.8%|Bitcoin $66,568.55 ▲2.0%

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