Bitcoin’s $2.7 billion options expiry lands five hours before payrolls data

Bitcoin traders face a $2.7 billion options expiry on Deribit on Friday that settles five and a half hours before the US payrolls report. That gap leaves a window where positions are locked in before a macro data release that can move prices. Later-dated puts carry different risks at higher quoted prices, so traders should watch how the expiry and payrolls interact.