The leading cryptocurrency by market value has been locked in the narrow range of $18,000 to $20,500, barring a brief spike above $22,000 around mid-September, according to CoinDesk data.
The featured image shows that bitcoin has seen less than 5% percent price moves in nine out of the past 12 NFP days. The annualized returns on the past 12 NFP days have been 91%. That's within the 365-day implied volatility 12-month range of 70% to 95%, according to data sourced from Laevitas. "Based on history, today – when the employment data is released – matters less than how prices tend to react one week later…. Crypto traders should watch out…," Thielen noted.
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