Bitcoin's Strange Relationship with US Non-Farm Payroll Data

Bitcoin has not performed well on days when the US releases its non-farm payroll data, averaging a 0% return in 2022. However, the cryptocurrency has tended to perform better in the week following these releases, according to past data.

Bitcoin tends to be more volatile during the week after the payrolls release. (Markus Thielen/Matrixport) (Markus Thielen)
It's no secret that bitcoin is a volatile asset. But did you know that this volatility tends to increase during the week after the release of the monthly payrolls report?