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Bitcoin drops below $60,000 amid $1.5B crypto liquidations following strong US jobs data.

Market News
05 Jun 2026
Coinpaper
View Source
Bearish
Bitcoin drops below $60,000 amid $1.5B crypto liquidations following strong US jobs data.

Bitcoin fell below $60,000, extending a 10-day decline amid $1.5 billion in crypto long position liquidations triggered by stronger-than-expected US jobs data. The US added 172,000 jobs in May, raising concerns about reduced Federal Reserve rate cuts, pressuring risk assets like Bitcoin. Key options market activity at $60,000 may lead to further selling and liquidations if the price stays below this level. Analysts see potential for more downside but also note this could be a buying opportunity for long-term investors if Bitcoin recovers above $65,000.

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