Morning Minute: Bitcoin Rips as Iran Strikes Postponed

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. And check retired our new regular quality show covering each of the apical stories successful 5 minutes oregon less, downloadable connected Apple Pod oregon Spotify.

GM!

Today’s apical news:

• Crypto majors soar aft Trump announces 5-day postponement of Iran strikes; BTC astatine $70k

• Congress to present bipartisan measure banning sports betting connected prediction markets

• Senators scope statement connected Clarity Act output quality successful large hurdle cleared

• Hyperliquid sees implicit $100M successful measurement connected S&P 500 index

• Gemini sued by stakeholders for misleading pivot into prediction markets

One azygous header and everything has turned.

Going into this weekend, crypto was getting hammered. Trump issued a 48-hour ultimatum Saturday nighttime - reopen the Strait of Hormuz oregon look strikes connected Iranian powerfulness plants. Bitcoin slid from $76,000 to beneath $68,500, longs got liquidated, and the Fear and Greed Index deed Extreme fear.

Then this morning, Trump announced he’s postponing those strikes by 5 days - and Bitcoin ripped.

Bitcoin instantly jumped $2,000 per token to $70,800. ETH jumped 5% to $2,170.

The Dow jumped 1000 points premarket and Oil fell disconnected a cliff, down 8% to $90.

Of course, 5 days is not bid and Trump says he’s inactive prepared to strike. Iran hasn’t reopened the Strait. This is conscionable a pause, not solution and the concern remains precise volatile.

But we whitethorn person conscionable gotten a glimpse of what volition hap arsenic soon arsenic the Iran War ends for good.

Key Details

• Trump announced helium has had bully discussions with Iran and is postponing strikes for 5 days

• BTC jumps 3.5% to $70,800 and ETH +4.5% to $2,170

• Oil falls 8% to $90

On Friday, Senators Thom Tillis and Angela Alsobrooks said they had reached an statement successful principle with the White House connected the stablecoin output contented — the main combat that has stalled the Clarity Act since January.

According to the reported framework, passive output connected stablecoin balances would beryllium banned, meaning users would not beryllium capable to clasp thing similar USDC and gain involvement successful a savings-account benignant format. However, activity-based rewards look apt to stay allowed.

That was capable to determination prediction marketplace likelihood sharply. Odds of the Clarity Act passing successful 2026 jumped to about 70% on Friday.

Key Details

• Passive output connected stablecoin balances would reportedly beryllium banned
• Activity-based rewards look apt to survive
• The stablecoin output combat had been the biggest obstacle holding up the Clarity Act