Bitcoin recovers to $61,000 after $1.6 billion liquidations

Bitcoin rose above $61,000 after a sharp drop to $59,227, driven by a strong U.S. jobs report that triggered a selloff. The market saw $1.6 billion in liquidations as traders reacted to higher interest rates and a weaker dollar. Major cryptocurrencies like ether and solana also fell, with zcash dropping due to a disclosed bug. The recovery eased fears of a deeper downturn, with bitcoin rebounding over $1,500 from its low.