Bitcoin Puts Surge Amid Cautious Market Sentiment Ahead of Jobs Report
Bitcoin (BTC) traders are actively purchasing put options, betting on a potential price drop, as they brace for the release of the upcoming U.S. nonfarm payrolls report, according to QCP Capital, a crypto-focused options trading firm based in Singapore.
With Bitcoin trading near $97,000, there’s notable interest in put options with strike prices as low as $80,000 and $90,000. This demand reflects a more cautious market stance, as traders anticipate that stronger-than-expected employment data could signal to the Federal Reserve that it should hold off on rate cuts—potentially putting downward pressure on bitcoin’s price.
“Heading into the nonfarm payrolls report, we’re seeing interest in BTC 28FEB25 80K puts and BTC 21FEB25 90K puts, indicating ongoing market wariness, though the skew still favors calls,” QCP Capital commented in a recent Telegram update.
The U.S. Bureau of Labor Statistics is expected to report a modest increase of 170,000 nonfarm jobs for January, with the highly anticipated data due at 8:30 a.m. ET (13:30 UTC) Friday.
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