Bitcoin retook the $61,000 level in the Saturday morning portion of Asian trading. The price recovered after briefly falling below $60,000 overnight. Following the strong US employment data announced on Friday, there were sharp sales in stocks, bonds and crypto assets.
Quick recovery after a night fall
Bitcoin hit a low of $59,227 during the day. After this level, buying appeared to gain strength again and the asset traded around $61,000. Despite this, the daily loss remained at approximately 1.3%.
The recovery came from a closely watched support zone in the market. Bitcoin has been falling towards the $60,000 threshold throughout the week. During this period, a record outflow from spot Bitcoin ETFs and Strategy’s first Bitcoin sale since 2022 weakened the buyer side that supported the price. The drop below $60,000 overnight did not turn into a deeper decline; The price recovered from the lows above $1,500.
Although Bitcoin fell below $ 60,000 overnight, the fact that this level was regained in a short time indicated that the market has not entered a harsher solution for now.
Selling pressure begins outside crypto
The beginning of the selling wave was not directly caused by the crypto market. After Friday’s strong non-farm employment data, the market quickly repriced its expectations regarding the US Federal Reserve’s interest rate path. The swap market has begun to fully price in an interest rate increase by the end of 2026. This outlook showed that the previously predicted interest rate reduction expectations during the term of Fed Chairman Kevin Warsh, whose new position has been finalized, have been reversed.
The two-year US bond yield increased by 12 basis points to 4.16%. While the dollar gained strength, there was a widespread withdrawal in risky assets. The decline in crypto assets also followed this trend.
Mini dictionary: Swap market is a derivative trading area where investors price future interest expectations. Basis points are used to measure interest rate changes; 100 basis points equals 1 point.
Weekly losses remain deeper in altcoins
One of the areas where the sales were felt the hardest were artificial intelligence-related stocks. The Nasdaq 100 fell nearly 5%, its steepest daily decline since April 2025. An index tracking chipmakers fell 10%. The S&P 500 fell 2.6% and failed to complete its tenth consecutive weekly rise streak.
The weekly chart in the cryptocurrency market also remained red. Ether has fallen 21.6% in the last seven days to around $1,575. Solana lost 23.7% to $63. The weekly decline in XRP, Dogecoin and BNB was between 13% and 20%. Remaining relatively resilient throughout the last selling wave hyperliquid‘s HYPE token lost 9.9% of its value in the same period. Hyperliquid is known as a platform focusing on decentralized derivative transactions.
| Presence | 7 day change | Approximate price |
|---|---|---|
| ether | 21.6% decrease | $1,575 |
| solana | 23.7% decrease | 63 dollars |
| HYPE | 9.9% decrease | Not specified |
The main topic to watch for Bitcoin in the short term will be whether the regained level of $ 60,000 can be maintained in a new test.
The main question for the market is whether Bitcoin can make this reaction permanent. If the $60,000 level is lost again, the price will return to the region last seen during the retreat in February.
