BTC rebounds 0.78% in 15 minutes: Short liquidation squeeze and technical support resonance drive short-term rebound

During the period of 09:30-09:45 UTC on July 2, 2026, BTC achieved a +0.78% gain in 15 minutes, with the price rising from 60,610.3 USDT to 61,205.5 USDT, a range of 0.98%. This period is in early Asian session, where under low liquidity conditions, price sensitivity to buying and selling pressure increases, and market volatility is significantly amplified.

The main driver of this abnormal movement was a short squeeze. Data shows that within the 24 hours from July 1 to July 2, short liquidations reached $79.92 million, accounting for 85.6% of total liquidations, with shorts accounting for as high as 88.3% on July 1. After the price rebounded from the low of $58,649.87, it triggered forced liquidation of a large number of short positions, forming a positive feedback loop of 'short covering → buying the underlying → price rise → more shorts triggering liquidations', amplifying the price increase during low-liquidity periods.

Secondly, technical support provided cooperation—the key support zone of $57,700-$58,000 was effectively held after multiple tests from late June to early July, and the price exhibited a 'lower low followed by upward breakout' pattern, attracting trend-following traders to enter long positions. However, it should be noted that ETF capital continues to be under pressure. In June, net outflows of $4.5 billion made it the worst month since its launch in January 2024, with cumulative net outflows of $2.21 billion over the past 7 days, reflecting weak institutional demand. Meanwhile, on-chain activity is at historical lows, and whale activity on exchanges has increased, possibly reducing holdings during the price rebound, creating potential selling pressure.

The sustainability of the current rebound remains to be observed. The $60,000 round-number support and the $60,829.91 previous high resistance are key short-term references. Be wary of the risk of pullback due to continued ETF outflows and fragile liquidity.