Bitcoin slipped near $58,000 before recovering, and CF Benchmarks says the $50,000 to $60,000 zone is where buyers have always stepped in.

Bitcoin lost 2.5% to $62,300 and ether fell over 4% to $1,650, while $717 million in liquidations amplified losses across altcoins.

Bitcoin slipped to $62,000 as a stronger U.S. dollar and broader risk-off sentiment pressured crypto markets ahead of key inflation data.