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Supporting the case for continued upside in bitcoin is the dwindling volatility in the U.S. stock and bond markets. The S&P 500 VIX indicator has tanked from 21.13 to 14.19 in the past five trading days, while the MOVE index, an options-based measure of volatility in the Treasury bond market,
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The leading cryptocurrency by market value rose almost 1% to touch $30,300, reversing some of Thursday's slide. The MSCI's broadest index of Asia-Pacific shares, excluding Japan, extended the prior session's weakness to drop to a five-week low, while U.S. stocks registered notable losses after a blowout ADP private-sector employment report
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"Bitcoin has returned exactly 0.0%, on average, on NFP days in 2022. So, traders might conclude that NFP days are non-events," Markus Thielen, head of research and strategy at crypto services provider Matrixport, said. "However, traders should be careful as the picture changes one week later." Source
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