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Bitcoin rebounds above $61K after $1.6B crypto liquidation triggered by strong US jobs data

Market News
01 Jul 2026
Crypto Briefing
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Bearish
Bitcoin rebounds above $61K after $1.6B crypto liquidation triggered by strong US jobs data

Bitcoin briefly fell below $60,000 after a stronger-than-expected US jobs report caused a $1.6 billion liquidation in leveraged crypto positions, but it has since recovered above $61,000. The strong jobs data suggests the Federal Reserve is less likely to cut interest rates soon, pressuring risk assets including crypto. The liquidation mainly affected long positions, clearing overleveraged bets and potentially setting a cleaner base for Bitcoin's next move. Holding above $60,000 is now crucial to avoid further sell-offs amid ongoing macroeconomic uncertainties and ETF outflows.

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