We checked 6 years of bitcoin data. The NFP report isn't big price mover

A six-year analysis of Bitcoin price movements around US nonfarm payroll (NFP) releases shows no consistent or statistically significant impact on BTC returns or volatility relative to baseline trading days. While individual NFP releases occasionally coincide with short-lived price swings, the effects appear idiosyncratic rather than systematic. Implication: market participants should not overweight NFP as a primary risk factor for Bitcoin positioning and should focus risk management on crypto-specific catalysts and broader macro regimes.