A stronger-than-expected US jobs report triggered broad risk-asset selling, dragging Bitcoin to a low of $59,227 before the cryptocurrency recovered above $61,000. The macro-driven selloff mirrored a roughly 5% decline in the Nasdaq 100, with stocks, bonds, and crypto all falling in tandem — underscoring Bitcoin's continued sensitivity to traditional market sentiment. The sharp move forced approximately $1.6 billion in leveraged positions to be liquidated across crypto markets, amplifying the downside volatility. Bitcoin's swift recovery suggests underlying demand at lower price levels, though traders remain cautious as interest rate expectations continue to shift following the robust employment data. The episode highlights how macroeconomic data releases can rapidly destabilize crypto markets that carry significant leveraged exposure.
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