According to a tweet from @GreeksLive on January 10, 2025, there was a notable surge in Bitcoin ($BTC) put buy volume coinciding with the release of a robust Non-Farm Payroll (NFP) report. This market activity saw a trader reportedly investing $630,000 in weekly at-the-money (ATM) put options. The timing of this trade suggests a strategic move to hedge against potential downside risks following the economic data release, which often influences market sentiment and volatility.

The implications of this trade are significant for the BTC options market. The increased put volume indicates a bearish sentiment or a desire to protect against potential price declines. This aligns with historical patterns where strong economic data can lead to a stronger US dollar, thereby impacting Bitcoin prices negatively. The trader's choice of ATM puts suggests an expectation of significant price movements within a short timeframe, specifically within the weekly expiry period. Historical data shows similar spikes in options trading activity around key economic reports, indicating a recurring pattern of market participants adjusting their positions in response to macroeconomic indicators.

Technical analysis reveals that Bitcoin's price experienced volatility following the NFP release. On January 10, 2025, Bitcoin's price opened at $42,000 and fluctuated between $41,500 and $42,600 by the end of the day, according to data from CoinMarketCap. Trading volumes also saw an uptick, with 24-hour volume reaching $15 billion, a notable increase compared to the previous day's $12 billion. The Relative Strength Index (RSI) remained neutral, suggesting that while there was significant trading activity, the market was not yet overbought or oversold. This aligns with the observed increase in put options volume, indicating traders positioning for potential price adjustments.

Overall, the reported surge in BTC put buy volume and the $630,000 investment in weekly ATM puts highlights the impact of macroeconomic data on cryptocurrency markets. Traders are evidently adjusting their strategies in anticipation of potential price movements, reflecting the interconnectedness of traditional economic indicators and digital asset markets.