Bitcoin rebounds above $62,000 after crypto selloff

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Bitcoin rebounded above the $62,000 level on Sunday, June 7, 2026, as the cryptocurrency market showed early signs of stabilization following a steep selloff that erased hundreds of billions of dollars from digital asset valuations.

Bitcoin rose around 3% to trade near $62,843 after briefly slipping below $60,000 earlier in the week, according to market data.

Crypto Market Attempts Recovery After Heavy Losses

The rebound follows one of the most volatile weeks for digital assets in 2026, during which Bitcoin fell more than 17%, while Ethereum declined roughly 20%.

The broader cryptocurrency market lost an estimated $390 billion in value, pushing total market capitalization to just above the $2 trillion threshold.

Heavy Liquidations Deepened the Decline

Market pressure was intensified by large-scale leveraged liquidations, with nearly $7 billion in positions wiped out during the week. Long positions accounted for the majority of losses, reflecting excessive leverage during the prior rally phase.

Analysts described the event as one of the most significant deleveraging waves since the 2022 crypto downturn.

ETF Outflows and Macro Pressures Weigh on Sentiment

Sentiment was further pressured by continued outflows from spot Bitcoin exchange-traded funds, alongside a broader rotation of capital toward artificial intelligence-related equities and technology investments.

A stronger-than-expected US jobs report also contributed to tighter financial conditions, pushing Treasury yields higher and reinforcing expectations that interest rates may remain elevated for longer.

Altcoins Join the Recovery Move

Major altcoins also rebounded, with Ethereum, Solana, Cardano, XRP, and Dogecoin posting gains between 4% and 6% on the day.

However, most tokens remain sharply lower on a weekly basis, highlighting ongoing volatility across the digital asset market.

Market Outlook Remains Cautious

Despite the rebound, market participants remain cautious as investors continue to assess whether the recovery represents a structural bottom or a temporary relief rally.

Key focus now remains on whether Bitcoin can maintain support above the $60,000 level and rebuild momentum after a week dominated by liquidations, ETF outflows, and macroeconomic uncertainty.