CME Exchange Sees Record Bitcoin Options Activity as Traders Hedge Against Payrolls Volatility

Implied volatility indicators point to moderate price swings across major cryptocurrencies ahead of the U.S. nonfarm payrolls release. Bitcoin's one-day implied volatility sits at 43.80, signaling a potential 2.29% move, while XRP and SOL face more pronounced expectations of 4% and 4.86% respectively. The jobs data could reshape Fed rate cut expectations, with hotter-than-forecast numbers likely pressuring risk assets.

Ether's open interest in perpetual contracts has dropped to a four-week low of 1.93 million ETH, raising questions about the sustainability of its recent 18% rally. Solana perpetuals show similar weakness, with open interest falling below 11 million SOL. Meanwhile, CME exchange Bitcoin options activity tells a different story - open interest has surged to 47.23K BTC, the highest since April, as institutional traders hedge against potential payrolls-induced turbulence through out-of-the-money puts.