Bitcoin back above $61,000 after rout leads to $1.6 billion liquidations
Bitcoin fell as low as $59,227 overnight before recovering, steadying after Friday's strong jobs report set off a selloff that sank the Nasdaq 100 about 5% and rattled stocks, bonds and crypto together.
AI Summary
Bitcoin briefly fell below $60,000 to $59,227 before recovering to around $61,000 after a strong U.S. jobs report triggered a broad market selloff that hit stocks, bonds, and crypto. The rout led to about $1.6 billion in liquidations across crypto positions, with major tokens like ether and solana posting steep weekly losses. Bitcoin's bounce came after a week of sliding toward $60,000 driven by ETF outflows and Strategy's first bitcoin sale since 2022, but the break below the round number did not deepen further.