BTC rebounds 0.54% in 15 minutes: oversold recovery and liquidity depletion amplify volatility

From 11:15 to 11:30 (UTC) on June 4, 2026, BTC rebounded sharply within 15 minutes, with a return of +0.54%. The price range closed between 62,239.1 and 62,657.1 USDT, with a range amplitude of 0.67%. The rise occurred against the backdrop of a 6.5% drop the previous day, leaving market sentiment extremely fragile; the Fear & Greed index plunged to 11, and the daily RSI fell to 10.00, nearing the historical extreme.

The main driver of this move was a technical oversold rebound. After Bitcoin’s sharp sell-off on the prior day, the RSI had already fallen into the extreme oversold zone at 10.00. Short-term technical indicators showed a strong demand for a rebound, prompting some short-term traders to enter for bargain buys or cover short positions.

In addition, liquidity exhaustion further amplified price elasticity. According to on-chain data, the number of whale addresses holding more than 1,000 BTC fell from 1,285 on May 22 to 1,279, with at least 6,000 BTC sold in a concentrated manner within a week (about $440 million). Long-term holder net positions dropped from 42,301 BTC to 39,049 BTC, a decline of 7.69%. Meanwhile, exchange reserves continued to fall to 2.21 million BTC, and spot ETF net outflows in May reached $2.3 billion, setting a historical record. With liquidity tightening, even a small amount of buy-side demand could drive relatively large price fluctuations.

Structurally, this rebound did not change the medium-term downtrend. Price needs to successfully reclaim $73,869 to ease the bearish structure; if that level is lost, the lower support lies at $70,342. The technical pattern indicates the 100-day EMA is moving toward the 200-day EMA, and the risk of a death cross has not been eliminated. On the macro side, it is important to closely monitor the Federal Reserve’s policy direction and changes in Treasury yields; the current 10-year Treasury yield has already touched 4.54%, and expectations of tighter liquidity continue to weigh on risk-asset performance.