Bitcoin Surges to $113K Ahead of Jobs Report, Options Expiry Adds Momentum
Bitcoin (BTC) climbed to $113,000 on Friday, its highest level since August 28, achieving its first higher high since mid-August’s all-time peak of $124,000, according to CoinDesk data. The move suggests a potential bullish reversal, with BTC’s market dominance rising to nearly 59%, up from 57.5%, indicating renewed capital inflows.
The rally coincided with $3.28 billion in BTC options expiring on Deribit, with the max pain level at $112,000. Traders note this alignment with the max pain theory, where option sellers push spot prices toward levels that maximize losses for buyers near expiry.
Investors now turn their attention to the U.S. nonfarm payrolls report at 8:30 a.m. ET, a key event likely to influence BTC’s next move.
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