Morning Minute: Bitcoin Rebounds to $69K as Oil Skyrockets, Then Cools

Morning Minute is simply a regular newsletter written by Tyler Warner. The investigation and opinions expressed are his ain and bash not needfully bespeak those of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

Today’s apical news:

• Crypto majors rebound overnight arsenic lipid drops from $115 to $100; BTC astatine $69K

• Polymarket and Kalshi reportedly rise astatine $20B valuations

• Florida aims to motion caller stablecoin measure into law

• Circle and Stripe are some investing heavy successful stablecoin infrastructure for AI

• Kast raises $80M to grow its stablecoin-powered neobank crossed borders

Crypto markets saw renewed volatility implicit the play arsenic geopolitical tensions escalated successful the Middle East.

Oil prices surged arsenic the struggle involving Iran threatened proviso routes astir the Strait of Hormuz, a corridor liable for roughly 20% of planetary lipid shipments. Oil concisely surged past $115/barrel successful Sunday nighttime trading, driving stocks and crypto lower.

Bitcoin went arsenic debased arsenic $65.6K earlier rebounding to $69K this greeting arsenic lipid has fallen person to the $100/barrel level.

Even with the rebound, Bitcoin is present trading backmost successful its $60K-$70K scope aft a failed breakout tally past week wherever Bitcoin ripped to $74K earlier falling.

And present it appears the terms of “digital gold” is astatine slightest somewhat babelike connected oil…

Key Details

• Oil concisely pushed supra $115 arsenic markets priced successful imaginable Hormuz disruption
• Roughly 20% of planetary lipid proviso passes done the Strait of Hormuz
• Crypto markets sold disconnected Sunday nighttime but rebounded into Monday morning

Prediction marketplace platforms Polymarket and Kalshi are reportedly raising caller capital at valuations approaching $20 billion, according to the Wall Street Journal.

The platforms let users to commercialized connected the probability of real-world events ranging from elections and geopolitics to economical information and fiscal markets.

Interest successful the assemblage exploded during the 2024 predetermination cycle, erstwhile prediction markets saw billions successful trading enactment and became wide cited indicators of governmental sentiment.

Investors present look anxious to money the adjacent signifier of growth.

Key Details

• Kalshi reportedly generated $466M successful regular trading measurement during caller peaks
• Prediction markets saw $4B+ play measurement during the U.S. predetermination cycle
• Kalshi raised $1B successful Dec 2025 astatine an $11B valuation, and Polymarket’s past rise was $2B at $9B valuation led by ICE

The Florida Senate has passed a caller bill creating a legal model for stablecoin payments, becoming 1 of the archetypal U.S. states to walk broad authorities focused specifically connected stablecoins.