Bitcoin (BTC) experienced a rebound, achieving nearly 3% gains as markets largely overlooked the renewed tensions between the US and Iran, particularly following the closure of the Strait of Hormuz. Despite geopolitical concerns, US stocks faced only modest declines, while oil prices began to retract from earlier highs. Analysts from QCP Capital noted that the market seems to be recalibrating its expectations for the US-Iran conflict, suggesting a more episodic pattern of escalation rather than a definitive breakout. They highlighted that volatility remains subdued, indicating a potential for prolonged conflict without significant market disruption. Furthermore, J. A. Maartunn from CryptoQuant pointed out that Bitcoin's recent price movements were largely driven by speculative trading, with BTC/USD struggling to break through key resistance levels around $83,000. While long-term holders are accumulating Bitcoin, the market appears to be in a bear market rally, with questions remaining about whether this momentum can sustain a significant upward trend.