You need to do element-wise operations using the dot (.) operator:
basex=-60.0235;
basey=-7.0012;
options=optimset('Algorithm','levenberg-marquardt');
X=fsolve(@(x)[basex./sqrt(4*x(2).^2.*x(1).^2+1)...
-basey*2.*x(2).*x(1)./sqrt(4*x(2).^2.*x(1).^2+1)+x(1);...
basex*2*x(2).*x(1)./sqrt(4*x(2).^2.*x(1).^2+1)...
+basey./sqrt(4*x(2).^2.*x(1).^2+1)+x(1).^2.*x(2)],[59;-0.001],options)
X =
35.1460e-006
-4.9918e-003
