Why Bitcoin Dropped on Iran Conflict & What HYPE's 20% Surge Means - Daily Crypto News

Crypto majors fell and then rebounded on the initial Iran strike and have levelled off; BTC even at $66.3k; ETH -2% at $1,950; SOL -1% at $84. Morpho (+5%), NEAR (+5%) and JUP (+3%) led top movers. Oil is up 8% premarket this morning with the Straight of Hormuz closure. Gold (+3%) and Silver (+2%) are both rallying amist the war. HYPE rallied 13% over the weekend to $31 as Hyperliquid HIP-3 open interest set an all-time high above $1.1B and was featured in a Bloomberg headline about weekend markets. The Department of War labeled Anthropic a “supply chain risk” and directed federal agencies to stop using its AI tools after negoations to use Claude for the Iran war fell through. Iran’s crypto mining network is being monitored, as the regime operated between 2-5% of global Bitcoin hashrate using subsidized electricity. Trump Media is weighing spinning off Truth Social into a separate public entity called SpinCo, which would merge with Texas Ventures III. South Korea’s National Tax Service accidentally published unredacted Ledger seed phrases in a press release. Minnesota lawmakers are considering a full statewide ban on crypto ATMs via HF 3642, which would make it the first US state to do so. Ripple introduced new funding routes for XRP Ledger development, including a new FinTech Builder Programme and university partnerships.