The crypto market is indicating that traders are more cautious about bitcoin BTC $ 68,519.31 than ether (ETH), indicating a more cautious stance in the new quarter. This is seen in the options market, where more experienced traders hedge risk or generate returns through options. These options, which are used to protect against price drops or bet on price increases, are more expensive than those on ether across different time frames. This suggests traders are worried about bitcoin's downside risk. The difference is also clear when long-dated ether options are slightly bearish, while bitcoin’s equivalent options carry a higher premium for downside protection. The 10-year U.S. Treasury yield fell for the fourth straight day, while futures tied to the Nasdaq and S&P 500 rose nearly 0.5%. This trend is seen as a sign of risk-on sentiment ahead, with analysts predicting a firm breakout in BTC above its 50-day moving average of $68,680.