There is surely a heterosexual explanation for this.
There’s none 😂. They’ve been flirting since they met (and have been married) for nearly 50 years. In 1973, someone sent a SamSteve letter to the editor wrt Captain America and Falcon, echoing some of the same frustrations we have with same-sex unions today. I transcribed it and I first saw the letter and panel in question via this Tumblr post:
Letter text:
Dear Bullpen, FAN-TASTIC!! Just read CAPTAIN AMERICA #158, and the third panel on page five (by your numbering) has got to be the greatest panel ever to appear in a comic! More was said (and even more so, implied) in this one panel than most comic book titles say in their whole lifetime. As if it wasn’t already great enough, my regard for Steve Engleheart’s writing ability has increased immensely just because of this one panel.
The really sad part about it is our society dictates that all Cap and Falcon could do was “look” at each other, because “they are men, and more would embarrass.” I hope that one day soon there will be no such “rules of behavior,” and everyone an look at everyone else as a person and not necessarily have to change any of their actions or words just because the other person is a male or female. Maybe some day…
Duffy Vohland, PO Box 70 Clarksburg, Indiana 47225
Letter screenshot:
Panel the letter above refers to, from Captain America Volume 1, #162, (1973):