Bitcoin slid as low as $59,227 overnight, then climbed back above $61,000 and stabilized after Friday’s jobs report hit risk assets hard, according to CoinDesk.
The move wasn’t just crypto. CoinDesk reports the jobs-driven selloff sank the Nasdaq 100 by about 5% and rattled stocks, bonds, and crypto in the same window. In that kind of “everything trades together” tape, leverage gets punished first.
CoinDesk links the sharp slide to liquidations totaling about $1.6 billion. That figure matters because liquidations are a forcing mechanism. When price drops, leveraged positions get closed, which can accelerate further selling until buyers step in or the leverage clears out.
Why this drop looks macro-led, not crypto-native
CoinDesk’s framing ties the selloff to the jobs report rather than to any specific protocol or exchange incident. That distinction changes how you read the tape. Macro-driven moves tend to respect correlations across asset classes, at least for a stretch.
So when the Nasdaq 100 falls about 5% and Bitcoin whipsaws in the same session, the more likely driver is risk-off positioning. Traders reduce exposure across markets. Crypto often behaves like a high-beta part of the portfolio during those phases.
What the liquidation number signals
CoinDesk reports roughly $1.6 billion in liquidations. Liquidations do not prove direction. They show how thin the buffer was when price moved quickly.
After a rout like this, stabilization can come from two different places. One is fresh spot buying that absorbs forced selling. The other is simply that the most vulnerable leverage has already been cleared. CoinDesk’s excerpt does not say which one dominates, only that recovery followed the downturn.
Where Bitcoin likely goes next
CoinDesk reports Bitcoin recovered to steady above $61,000 after the overnight low. But CoinDesk’s provided text does not include follow-through data such as volume changes, funding rates, or order book depth.
That limits what readers can responsibly infer. The safer takeaway is operational. In macro-triggered selloffs, watch the next wave of risk signals and any further liquidation bursts, since they tend to decide whether a bounce sticks or fades.
If crypto is trading with equities again, policy expectations and economic prints remain the main catalysts. Until the correlation breaks, BTC’s near-term behavior may continue to mirror broader market stress more than it reflects idiosyncratic crypto fundamentals.
Fact recap
| Item | Reported detail |
|---|---|
| Bitcoin low | $59,227 overnight |
| Bitcoin recovery | Back above $61,000 |
| Jobs report impact | Triggered a selloff across risk assets |
| Nasdaq 100 move | About -5% |
| Liquidations | About $1.6 billion |
CoinDesk’s account sets up a classic pattern. Macro shock hits first. Leverage snaps next. Price recovers when the forced flow slows. The open question is whether the next catalyst is another macro print or something crypto-specific.