Bloomberg: Bitcoin’s 24/7 trading makes it the most liquid asset for expressing macro views when other markets are closed
BlockBeats News, February 28, according to Bloomberg, as tensions escalate between the United States, Israel, and Iran, traders are turning to crypto trading platforms for round-the-clock hedging. On Hyperliquid, oil-linked perpetual contracts rose by about 6.2% to $70.6 per barrel, while gold and silver perpetual contracts increased by over 5% and 8% respectively, reaching $5,464 and $97.5 per ounce. The trading volume of silver perpetual contracts exceeded $400 million in the past 24 hours, while gold contracts saw nearly $140 million in volume. US stock index contracts on the platform fell by 1% to 2%.
The Iran conflict triggered safe-haven sell-offs in the crypto market, with bitcoin dropping as much as 3.8% to $63,038 before stabilizing near $64,000; ETH fell as much as 4.5% to $1,836. According to CoinGecko data, the total market capitalization of digital assets evaporated by about $12.8 billion after the outbreak of the conflict.
Jake Ostrovskis, Head of OTC Trading at Wintermute, stated that because bitcoin trades around the clock, it has become the most liquid asset for traders to express macro views when other markets are closed, and more asset classes are moving toward 24/7 trading. Felix co-founder Charlie Ambrose said this is yet another weekend of 24/7 price discovery through perpetual contracts on Hyperliquid, which is expected to drive a macro shift in how global markets operate.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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