Leading cryptocurrencies mounted losses on Thursday as investors remained cautious ahead of the release of a crucial jobs report

What Happened: Bitcoin fell to an intraday low of $91,220 late afternoon before recouping some losses by evening. The leading cryptocurrency has declined nearly 10% since the highs of $102,000 earlier in the week.

The report of the Justice Department getting approval to sell $6.5 billion in Bitcoin and on-chain movements created panic in the market, although it was yet to be confirmed the sale happened.

The extended slump triggered a fresh wave of liquidations, with nearly $285 million in upside bets getting evaporated in...