Bitcoin Recovers Above $61,000 After Market-Wide Selloff Triggers Significant Liquidations

Bitcoin experienced significant volatility, falling to a low of approximately $59,227 before rebounding above $61,000. The steep drop followed Friday's release of a robust U.S. jobs report, which sparked widespread selling across equities, bonds, and crypto markets. Notably, the Nasdaq 100 declined by about 5%, reflecting broader investor caution in response to economic signals that may affect interest rates and risk sentiment.

As a result of the sharp price movement, the crypto market saw around $1.6 billion in liquidations, according to source-reported estimates. This wave of liquidations impacted both long and short positions, further amplifying volatility during the session. Market participants are closely monitoring macroeconomic developments and their potential implications for digital asset prices.

Bitcoin's swift recovery above the $61,000 mark signals some stabilization, but the situation remains dynamic as traders assess ongoing market risks and economic data.