Bitcoin and Crypto Perpetuals Used for Round-the-Clock Hedging Amid Iran Tensions and Market Closures

Bitcoin and crypto derivatives served as key hedging instruments during escalating U.S.-Israel-Iran tensions, with Bitcoin's 24/7 trading offering the most liquid outlet for macro positioning when traditional markets closed, Bloomberg reported citing Odaily Planet Daily and CoinGecko data. On Hyperliquid, oil-linked perpetual contracts rose about 6.2% to $70.6 per barrel, while gold and silver perpetuals climbed more than 5% and 8% to $5,464 and $97.5 per ounce respectively, with silver perpetuals recording over $400 million in 24-hour volume and gold contracts approaching $140 million; U.S. stock index contracts on the platform fell 1% to 2%. The Iran-related conflict coincided with a risk-off move in crypto, as Bitcoin dropped 3.8% to $63,038 before stabilizing near $64,000, ETH declined 4.5% to $1,836, and total digital asset market value shrank by about $128 billion, CoinGecko data show. Wintermute Head of OTC Jake Ostrovskis said more asset classes are shifting toward 24/7 trading, while Felix co-founder Charlie Ambrose noted continuous price discovery via Hyperliquid perpetuals over the weekend could drive macro changes in how global markets function.