Bitcoin Price Drops 6.12% Amid Aggressive Crypto Selloffs

The cryptocurrency market experienced a significant downturn on Friday, with Bitcoin leading the decline.

According to data from various sources, the price of Bitcoin (BTC) dropped 6.12% to $59,821, marking one of its lowest points in recent times.

This sharp decline was largely driven by the release of a stronger-than-expected U.S. jobs report, which exceeded expectations with 172,000 new jobs added in May 2026.

As a result, markets began to price in a higher probability of zero Fed rate cuts in 2026, causing Treasury yields and the dollar to rise and tighten liquidity for risk assets like Bitcoin.

The sudden change in market expectations led to significant liquidations, with over $190 million in long liquidations taking place within a 24-hour period.

As Bitcoin continues to test its critical support band between $59,000 and $60,000, holding this area is crucial for near-term stability. A failure to reclaim the $61,000 level could invite further downside towards the $55,000-$57,000 range.