Increased Demand for Bitcoin $80K and $90K Puts Signals a Cautious Market Ahead of Jobs Report.

Bitcoin Traders Show Hesitancy, Buy Puts Ahead of Nonfarm Payrolls Data

As the U.S. nonfarm payrolls report approaches, bitcoin (BTC) traders are placing their bets on potential downside, with increased interest in put options that offer the right to sell the cryptocurrency at specific prices, according to QCP Capital, a Singapore-based options market firm.

With bitcoin’s price hovering around $97,000, the heightened demand for puts—especially those targeting $80,000—signals a sense of caution in the market. Traders are worried that stronger-than-expected job growth could dampen expectations for Federal Reserve interest rate cuts, potentially causing bitcoin’s value to drop.

“We are seeing sustained interest in BTC 28FEB25 80K puts and BTC 21FEB25 90K puts as the nonfarm payroll report looms,” QCP Capital stated in a Telegram broadcast. “Despite the market’s overall bias toward calls, these put options suggest traders are still cautious.”

The highly anticipated U.S. jobs report, scheduled for release at 8:30 a.m. ET (13:30 UTC), is expected to reveal that 170,000 jobs were added in January.