The bitcoin and ether options market saw mixed flows ahead of the crucial U.S. nonfarm payrolls report, with a focus on setting strategies that profit from a potential post-data volatility explosion.
The need to add downside protection likely stemmed from fears that an upbeat payrolls figure would encourage theThe data due at 13:00 UTC is likely to show the world's largest economy added 200,000 jobs in December after November's 263,000 additions, according to Reuters. The unemployment rate is forecast to remain unchanged at 3.7%, while the average hourly earnings growth is expected to have slowed to 5% year-on-year from 5.1%.
"We would need to see a number sub-200k to suggest a sufficient easing of labor market conditions, which could then fuel a risk-on rally. A number in line with expectations likely results in muted to mildly negative price action," Lo told CoinDesk.
godbole17 BTC is going to break out to 20k in the coming days.
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