Bitcoin reclaimed the $61,000 level on Saturday after briefly dipping below $60,000 overnight, following a sharp selloff triggered by a strong U.S. jobs report. The token fell as low as $59,227 before recovering over $1,500. The selloff originated outside crypto, with the Nasdaq 100 sinking about 5% and two-year Treasury yields jumping 12 basis points after markets repriced the Federal Reserve outlook, now fully pricing a rate increase by end of 2026. Other tokens remain deeply in the red, with Ether down 21.6%, Solana down 23.7%, and XRP, Dogecoin, and BNB all lower by 13-20% over the week. The leverage washout was heavy, with approximately $1.60 billion liquidated across 308,000 traders, including $534 million in Bitcoin and $423 million in Ether. Zcash also saw $115 million in liquidations amid a 44% collapse tied to a disclosed bug in its Orchard privacy pool. The question now is whether Bitcoin can build on the bounce or whether the $60,000 level gives way on a retest, potentially returning to February drawdown levels.

Key facts

• Bitcoin dipped to $59,227 before recovering to $61,000, down 1.3% on the day.
• $1.6 billion liquidated across 308,000 traders, with longs accounting for $1.21 billion.
• Nasdaq 100 sank 5% after strong jobs report led to Fed rate hike expectations.
• Ether down 21.6%, Solana down 23.7% over the week; Zcash crashed 44% on bug disclosure.

KeyAudit data perspective