Bloomberg: Bitcoin trades 24/7, becoming the most liquid asset for expressing macroeconomic views when other markets are closed.

Escalating tensions between the US, Israel, and Iran prompted traders to turn to crypto exchanges for 24/7 hedging. Oil-linked perpetual contracts on Hyperliquid rose approximately 6.2% to $70.6 per barrel, while gold and silver perpetual contracts climbed over 5% and 8% respectively, reaching $5,464 and $97.5 per ounce. Silver perpetual contracts saw over $400 million in trading volume over the past 24 hours, while gold contracts saw nearly $140 million. US stock index contracts on the platform fell 1% to 2%. The Iranian conflict triggered a safe-haven sell-off in the crypto market, with Bitcoin initially falling 3.8% to $63,038 before stabilizing around $64,000; ETH initially fell 4.5% to $1,836. According to CoinGecko data, the total market capitalization of digital assets has evaporated by approximately $128 billion since the conflict began. Jake Ostrovskis, head of OTC trading at Wintermute, stated that Bitcoin's 24/7 trading makes it the most liquid asset for traders to express macroeconomic views when other markets are closed, and more asset classes are moving towards 24/7 trading. Charlie Ambrose, co-founder of Felix, said this was another weekend of 24/7 price discovery through perpetual contracts on Hyperliquid, potentially driving a macroeconomic shift in how global markets operate.