BTC rebounds 0.75% in 15 minutes: technical correction after extreme oversold conditions converges with short liquidations

From 14:30 to 14:45 UTC on June 5, 2026, BTC delivered a +0.75% return, trading in the range of 60,335.5-61,194.5 USDT, with a 1.42% intraday swing. This mild rebound came after the extreme selloff in early June, when the market was in a state of extreme panic.

The main driver of this move was technical rebound demand. Between June 2 and 3, BTC plunged from about $77,799 to about $65,978, with a drop of more than 14%—the worst short-term pullback since 2026. The daily RSI fell to 10.00, nearing historical extremes. The Fear & Greed Index dropped to 11 (extreme fear), creating room for technical repair in an extremely oversold condition.

Second, accelerated short liquidations pushed prices higher. In early June, the funding rate on perpetual contracts turned negative. Short positions’ cost continued to accumulate, while open interest fell rapidly from about $42 billion to $28.4 billion, a decline of more than 20%. With many shorts taking profit and closing positions, prices were lifted. In addition, the amount of BTC held on exchanges rose to 2.71 million BTC (the highest since March), reflecting that holders’ willingness to sell remains. However, under low-liquidity conditions, even relatively small buy pressure can amplify price volatility.

Risk to monitor: further volatility. BTC is still in a weak pattern. Spot Bitcoin ETFs have had net outflows for 11 straight trading days, totaling more than $297 million, and ongoing institutional fund outflows create structural pressure. The key support level of $71,300-73,000 has already been broken; if buying strength remains insufficient, BTC may fall again.