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The nonfarm payroll (NFP) report is a key economic indicator for the United States and represents the total number of paid workers in the U.S. excluding those employed by farms, the federal government, private households, and nonprofit organizations.
The nonfarm payroll report consistently causes one of the largest rate movements of any news announcement in the foreign exchange (forex) market. As a result, many analysts, traders, funds, investors, and speculators anticipate the NFP number and the impact that it will have on forex.
The NFP report is typically released on the first Friday of each month, providing the total monthly increase or decrease in paid U.S. workers across most businesses. Increasing numbers may show economic expansion but may also give investors reason to be concerned about inflation and decreasing numbers suggest a broader economic concern.

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I personally dont trade during the NFP week because of the volatility and this week is the NFP week.

For the forex market and traders, NFP is the most heaviest news with alot of volatility that can change the trend of the market. Like you said it is usually every first Friday of the month and it is responsible for many losses in the market and has caused many traders to go out of the market at different times. It basically release the employment or loss of jobs which shows how the US economy is moving and is very capable to produce a very volatile market affecting currency paired with USD like GBP/USD EUR/USD AUD/USD USD/CAD etc. It is a high impact news and when it shows red it means the news is negative on dollar and if it shows green it means it is positive to dollar. We can visit https://www.forexfactory.com/ for more on forex news.

NFP is indeed high-impact news that causes huge market volatility and which drives the market within a specific time.
As a trader, I basically stay away from the market if we are expecting such reports and if I'm currently holding a position in the market,  what I normally do is exit all my positions, secure some profit, or either set breakeven and a tight stop lose,
And wait to trade in the direction of the report. If the report is positive it makes the US dollars become stronger while a negative report weakens the US dollar.

If we know how to get our profits from the market, the NFP is a better time for us to make good profits from the market only if we know how to position our traders will buy it sell limit. This will enable us to sell it the report of the news is opposite the previous part months which could make the market to spike to the bearish direction.

 Good and experience traders do make crazy profits from the news because there is always different speculations about what will be the outcome of the actual previous month. There are good money that cam be made from NFP if we are very good and market speculation and analysis.

Knowing NFP then its a significant event that is really that something to look upon on which it would bring out whether bearish or bullish
and this had been that known on Forex market.

Here are some keywords about NFP.

KEY TAKEAWAYS
•The monthly jobs report from the U.S. Department of Labor can have a notable impact on the forex market because traders are always monitoring economic data for signs of strength or weakness.
•The numbers are released on the first Friday of the new month and capture employment trends from the month before.
•While the headline payroll number is considered to be the most important, traders also look at other data in the report, such as the unemployment rate, changes in wages, and any revisions to past reports.
•The forex market will likely see a notable reaction when the payroll report deviates substantially from economists' expectations.
Source:  https://www.investopedia.com/ask/answers/06/nonfarmpayrollandforex.asp

NFP or something like this doesnt exist on crypto gambling space. We are really that taking up fundamentals or news into a random manner.

This is just something that I read just now. I had no idea what NFP was until this. I didn't know that it had that significant impact on the market. It's probably because of the people receiving money as well.

Is there any similar thing within the cryptospace?

crypto markets dont affect due to nonfarm payrolls. It has its own style of moving, sometimes it could be fomc meetings. or sometimes a major statement by the sec or any other government body. keep an eye on fomc meetings and feds report on any crypto event. you will definately find some moves in the market.

NFP stands for Non-Farm Payrolls!
This is a significant economic indicator in Forex trading. Released monthly by the U.S. Bureau of Labor Statistics, NFP reports the change in the number of employed individuals, excluding farm workers, government employees, and the self-employed. This data provides insights into the health of the U.S. job market and economy. Forex traders closely monitor NFP releases, as they can cause significant market volatility due to their potential to influence the U.S. Federal Reserve's monetary policy decisions.