Bitcoin Tops $65K on US-Iran Deal, But Traders Remain Skeptical

In brief

• Over $4.8 billion has exited U.S. Bitcoin ETF products since May, and analysts say a peace deal alone won’t bring institutional capital back.
• The 25-delta options skew remains at -4% to -5%, showing traders are still paying a premium for downside protection over upside exposure.
• The…