Some crypto merchants are snapping up bitcoin (BTC) put choices, or the precise to promote the biggest cryptocurrency at a predetermined value, in the run-up to the pivotal U.S. nonfarm payrolls report, in response to choices market exercise tracked by Singapore-based QCP Capital.
Merchants purchase places when anticipating a drop in the underlying asset’s value, at present round $97,000. The demand for places at as little as $80,000 displays cautious sentiment in the market and is an indication these consumers could also be apprehensive that better-than-estimated jobs knowledge will dent the case for Federal Reserve interest-rate cuts and set off a slide in the BTC value.
“As we head into tonight’s non-farm payroll report, market sentiment stays cautious. The desk continues to look at curiosity in BTC 28FEB25 80K places and BTC 21FEB25 90K places, reflecting persistent warning regardless of the skew nonetheless favoring calls,” QCP Capital mentioned in a Telegram broadcast.
The U.S. Bureau of Labor Statistics is predicted to say nonfarm payrolls grew by 170,000 in January. The report is due at 8:30 a.m. ET (13:30 UTC).
