Bitcoin steady as S&P 500 hits record, but options market isn't buying the peace trade

What Happened

Bitcoin climbed to $74,935, up 0.7% in 24 hours, as U.S. equities reached record highs following reports of U.S.-Iran negotiations extending past April 7. S&P 500 gained 0.8%, Nasdaq 100 rose 1.4%. Ether led altcoins, up 8.1% weekly to $2,360. However, crypto derivatives markets show caution. Bitcoin perpetual funding rates remain negative, open interest weakened, and options imply downside protection demand exceeds upside bets, suggesting traders view this as temporary bounce rather than sustained trend.

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