BTC 15-minute short-term bounce up 0.47%: Technical correction and short-covering convergence

From 19:30 to 19:45 UTC on May 29, 2026, BTC saw a brief move with a +0.47% return. The price range was 73,335.3 to 73,724.7 USDT, with an amplitude of 0.53%. This rebound occurred amid BTC’s overall daily decline of 1.09%, as market attention notably heated up and short-term volatility increased.

The main driver behind this move was demand for a technical rebound. After falling steadily from the mid-May peak of $81,000, the price dropped to around $73,500—down about 9.3%—and has approached the key support zone of $65,000 to $69,000. The technical setup generated a TBO Close Long signal, suggesting room for a short-term repair. As the price neared the support area, some short positions took profits, pushing prices higher for a correction.

Second, concentrated liquidation of leveraged positions amplified the size of the move. According to CoinGlass data, during the ongoing downtrend, about $255 million in leveraged positions were liquidated. Meanwhile, whale exchange activity is at a ten-month high, and the trading behavior of large holders further magnified price fluctuations. In addition, BTC options flow shifted from selling call options to actively buying call options, reflecting traders positioning for a potential rebound; technical signals and sentiment in the options market briefly converged.

Near-term volatility risk still needs to be watched closely. The OBV trend remains bearish, RSI has not yet reached oversold levels, and no reversal signals have been confirmed. ETFs have seen six consecutive days of outflows, suggesting weak institutional sentiment. Combined with faster whale activity, this may indicate potential sell pressure ahead. Going forward, market participants should monitor the effectiveness of the $65,000 support zone, on-chain whale fund flows, and macro policy developments; in the short term, there remains risk of continued downside.