Bitcoin reclaimed the $61,000 level on Saturday after briefly dipping below $60,000 during a broad market selloff triggered by a strong U.S. jobs report and rising interest rate expectations.

Key Points

• Bitcoin recovered to approximately $61,000 after hitting an overnight low of $59,227 during a period of high market volatility.
• A robust U.S. nonfarm payrolls report caused investors to reprice Federal Reserve interest rate expectations, driving up Treasury yields and the dollar.
• Approximately $1.6 billion in leveraged crypto positions were liquidated over 24 hours, with long positions accounting for $1.21 billion of the total.
• Major tokens including ether and solana recorded significant weekly losses, while Zcash dropped 44% following the disclosure of a bug in its Orchard privacy pool.
• The Nasdaq 100 experienced its sharpest decline since April 2025, falling 5% as the broader market selloff impacted both tech stocks and digital assets.

Why it Matters

The recent market turbulence highlights the increasing sensitivity of digital assets to macroeconomic data and shifting Federal Reserve interest rate policies. This volatility underscores the risks associated with high leverage in the crypto sector, as sudden price swings can trigger massive liquidations that exacerbate broader market downturns.