BTC rebounds 0.79% in 15 minutes: technicals are extremely oversold, triggering short-seller profit-taking

During the period from 19:15 to 19:30 UTC on June 5, 2026, the BTC price rebounded slightly, with a return of +0.79%. The price range was 59,129.2 - 59,866.6 USDT, and the amplitude was 1.24%. This rebound occurred against the backdrop of a sharp overall drop that day—Bitcoin’s intraday low touched $59,764.90, the lowest since October 2024. The intraday decline was about 5%, fitting a typical technical rebound after being oversold.

The main driver of this move was a rebound triggered by severe technical oversold conditions. The RSI fell to around 7.49, placing it in an extremely oversold zone; historically, similar levels are often accompanied by technical corrections. Meanwhile, the more-than-5% daily drop built up substantial short profit-taking. Once technical signals appeared, shorts closed positions in a concentrated manner, pushing the price back up in the short term.

In addition, ETF flows saw the first small net inflow after 13 straight days of outflows (only $3 million). However, this tiny inflow is unlikely to provide meaningful support. On the macro side, escalating conflict between Iran and US forces pushed oil prices above $90 per barrel. The US May nonfarm payroll data came in above expectations, strengthening hawkish Fed expectations and sharply lowering the probability of rate cuts, causing market risk appetite to decline overall. Stablecoin dominance continuing to rise indicates capital is rotating from risky assets into stablecoins. Strategy’s psychological shock of breaking its long-term hold strategy by selling 32 BTC further weakened market confidence.

The current technical TBO breakout has been confirmed, and there is a risk that the key $60,000 support level could be lost. Watch whether RSI can continue to recover, whether ETF capital flows can turn positive, and how the geopolitical situation evolves. Short-term volatility risk remains; users should monitor key technical levels and assess portfolio risk prudently.