Morning Minute: Bitcoin Outperforms Gold, Stocks During Iran War
Bitcoin initially dropped to around $63,000 amid the Iran conflict but rebounded above $70,000 (+7%), outperforming gold (-1%), the S&P 500 (-1%), and tech stocks (+1%). Large institutional players, such as Michael Saylor’s STRC product, drove this recovery, with Strategy buying $1.28B in Bitcoin last week and STRC generating record BTC buying pressure. The return of the Coinbase premium signals renewed U.S. institutional interest. Polymarket announced a partnership with Palantir and TWG AI to enhance sports integrity in U.S.-regulated prediction markets, offering real-time trade surveillance and anomaly detection. This comes amid surging prediction market volumes and recent scandals involving sports betting manipulation. Hyperliquid is upgrading its network to move portfolio margin to alpha, letting users borrow up to 1 million USDC or USDH against spot holdings and adding testnet support for prediction market-style contracts. Its daily open interest has grown rapidly, positioning Hyperliquid as a full-stack onchain trading platform. Elon Musk confirmed X Money will enter public access next month, offering direct deposits and payments—but with no crypto, including Dogecoin, at launch. Meta acquired Moltbook, an AI-agent-only social network that quickly gained traction, with founders joining Meta's Superintelligence Labs. A Moltbook-themed memecoin surged on the news.

