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BTC Bitcoin (BTC) remained high on Wednesday, as cryptocurrencies and risky assets continued to ignore tensions between the United States and Iran.
Key points:
Despite the renewed escalation of the US-Iran conflict, Bitcoin fell back from a five-week high, but its decline was limited. The U.S. stock market also ignored potential risks, with analysts warning that short sellers could pay the price. A Bitcoin trader believes that BTC/USD will perform better than the S & P 500 in the future.
Bitcoin and stock markets digest Trump's threat to "destroy" Iran's power plant
TradingView data showed that BTC/USD fell 1% on the day, having earlier hit a five-week high of nearly $67,000. 
Cryptocurrencies and U.S. stocks continued Tuesday's trend, ignoring the escalation in the Middle East, including direct strikes from Iran and the United States. U.S. President Donald Trump has threatened to attack Iran's bridges and energy infrastructure, but this has only a slight impact on market performance.
"From now on, whenever the Islamic Republic of Iran fires at ships in the Strait of Hormuz, whether using missiles, rockets, drones or any other device or weapon, the United States will bomb and destroy a bridge or power plant, including facilities in or near the city of Tehran's capital. "He wrote in a post on Truth Social. Only oil prices fluctuated that day, with WTI crude oil and Brent crude oil reaching US$88.60 and US$95.50 per barrel respectively, both the highest levels since June 11. 
The bullish momentum in stocks has prompted trading resource firm The Kobeissi Letter to note that those betting on market reversals could face more pain. "Short positions in the S & P 500 index as a proportion of free float have risen to about 3.7%, close to the highest level since data became available in 2010. The proportion of short positions in the Russell 3000 Index rose to about 6.1%, also close to historical highs. "The agency reported on Tuesday, citing Bloomberg data. "Since the beginning of 2025, both indicators have steadily increased. "
Kobeissi believes that there may be a" short squeeze "market, which will hit short positions established later.
Traders believe that Bitcoin prices will outperform the stock market
As far as Bitcoin is concerned, traders are still waiting for a clearer direction, with the US$67,000 mark becoming the focus of attention. As of press time, according to CoinMarketCap data, the Bitcoin price is approximately US$65,975, with 24-hour transaction volume exceeding US$30.3 billion.
"Breaking through this point will create a bullish daily market structure and create a higher high. "Trader Daan Crypto Trades told fans on Platform X earlier Wednesday. "This is the first time that a higher daily high has emerged since the May rally. "
Of course, some traders believe that Bitcoin shows significant price strength relative to the S & P 500 index. "$BTC vs. U.S. stocks are experiencing strong weekly bullish deviations and the RSI trend is about to break through. "X platform user Osemkaread wrote when referring to the Relative Strength Indicator (RSI). "The deviations from lows are five months apart, similar to the lows in 2022. Judging from the most undervalued range in history,$BTC should significantly outperform the U.S. stock market in the foreseeable future, as lows are likely to have already occurred. "
As Cointelegraph previously reported, the general consensus remains that Bitcoin's next bear market low will occur later this year or early 2027.
