- Bitcoin briefly fell below $60,000 before moving back above $61,000 during Saturday trading.
- The drop followed a wider sell-off across stocks, bonds and crypto after a strong U.S. jobs report changed rate expectations.
- About $1.6 billion in leveraged crypto positions were liquidated in 24 hours, according to CoinGlass data cited by CoinDesk.
Bitcoin recovered above $61,000 on Saturday morning after briefly falling under the closely watched $60,000 level, according to a June 6 report from CoinDesk.
The move came after a difficult trading session across global markets. A stronger-than-expected U.S. jobs report led investors to rethink the path of interest rates. When markets expect rates to stay higher, riskier assets such as technology stocks and crypto often come under pressure.
Bitcoin fell as low as $59,227 before buyers returned. By the time of the CoinDesk report, it was trading near $61,000, still lower on the day but above the round-number level traders had been watching.
The sell-off was not limited to Bitcoin. Ether, Solana, XRP, Dogecoin and BNB were also down sharply over the week. This shows how quickly pressure in traditional markets can spread into digital assets when investors reduce exposure to risk.
Leverage made the move more severe. In crypto, leverage means traders borrow funds or use derivatives to increase the size of a position. If the market moves against them, exchanges can automatically close those positions. These forced closures are called liquidations.
CoinDesk reported that roughly $1.6 billion in crypto positions were liquidated over 24 hours, based on CoinGlass data. Long positions, which bet on prices rising, made up most of those liquidations.
For crypto investors and token teams, the episode is a reminder that market liquidity can change quickly. Even when a price level is recovered, volatility can remain high when macroeconomic news, ETF flows and leveraged trading all move at the same time.
