Bitcoin has rebounded above the $60,000 mark after briefly dipping below the $58,000 support level, reaching a low of approximately $57,700. This recovery follows the release of U.S. non-farm payroll data, which fell short of expectations. Ethereum also saw a significant recovery, climbing to $1,700, marking a nearly 10% increase from its mid-week low. In the options market, front-end implied volatility has decreased from recent highs, and the term structure has returned to a positive spread, indicating a stabilization in market conditions. Despite this, there remains a demand for short-term downside protection, reflecting ongoing caution among investors.