Bitcoin swiftly recovered above $61,000 after a sharp overnight dip to $59,227, triggered by a strong jobs report that also impacted traditional financial markets.
Strong U.S. job growth has intensified expectations for further Federal Reserve interest rate hikes, creating a new headwind for Bitcoin and the broader cryptocurrency market.
The upcoming week brings significant events for the crypto sector, including the return of the U.S. Congress, crucial regulatory comment period closures, and the release of the latest jobs report.