Bitcoin back above $61,000 after rout leads to $1.6 billion liquidations
60-second summary
Bitcoin is trading above $61,000 after a volatile overnight session, recovering from a low of $59,227, with $1.6 billion in liquidations occurring across the crypto market. The sudden downturn was triggered by a strong jobs report, which also sent the Nasdaq 100 plummeting 5% and rattled stocks and bonds worldwide, causing widespread market instability.
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.