Bitcoin price avoids major Iran jitters as S&P 500 ‘short squeeze’ on horizon
Summary
Bitcoin held near five-week highs around $67,000 even as US-Iran tensions escalated, showing resilience alongside US stocks. Markets largely ignored threats of further attacks on Iranian infrastructure, with oil prices seeing the main reaction as WTI and Brent rose to their highest levels since June 11. BTC was about 1% lower on the day at one point, later around $65,975, with traders watching $67,000 as the key level for a bullish breakout and a higher high on the daily chart. Some analysts also highlighted Bitcoin’s relative strength versus the S&P 500, pointing to a bullish divergence and potential RSI breakout. Meanwhile, elevated short interest in US equities raised the risk of a short squeeze if stocks keep climbing.
