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🐳 Daily Edition: Trump Decides War is Over, Markets Rally

🐳 Daily Edition: Trump Decides War is Over, Markets Rally

Beluga & Will McKinnon
March 23, 2026

Trump’s announcement of “productive talks” with Iran this morning started the week off decidedly greener than last week’s ugliness, with Bitcoin ending the day just under the $71k mark. For the first time in what feels like months, basically every chart is green… except Oil of course, which fell 15% at its lowest.

Hyperliquid WTIOIL Perpetual

Despite the chaos in the market, it looks like institutions and whales are buying the dip: over the last 4 weeks, Bitcoin ETFs have gobbled up about $2B in capital while onchain data shows the number of Bitcoin whale wallets continues to rise. We might have a long way to go until BTC is the perfect macro hedge we all dream it could be, but in the meantime it’s clear the smart money has no issue parking liquidity there even when times are tough.

The outlook from here all centers around one question: are the US-Iran “talks” real? If there’s genuine diplomatic progress, we should expect oil to continue falling, and more importantly for us a rise in risk assets like crypto. By far the biggest narrative recently has been tokenized equities and commodities (largely dominated by Hyperliquid), so if we do see a resolution I would look there for top performers.