BTC rises modestly by 0.35% in 15 minutes: a short-term rebound driven by low liquidity combined with short-covering

From 02:45 to 03:00 UTC on June 2, 2026, the BTC price rebounded from a low of 70,578.0 USDT to 70,844.5 USDT, achieving a +0.35% rise within 15 minutes, with an amplitude of 0.38%. Against the backdrop of generally light market trading, the price in this period saw a slight recovery, but the overall volatility remained limited.

The main drivers behind this price move were the combined effects of short covering in a low-liquidity environment. During the early UTC hours, the Asian market had not yet opened and the US and Europe markets were in a silent period after closing, with on-chain activity at historical lows. Mempool and transaction fee metrics indicated extremely thin liquidity. In such conditions, a small number of buy orders can push the price to fluctuate significantly, while the earlier accumulated short positions being closed accelerated the upward move.

Second, slower whale activity provided an opportunity for a short-term rebound. Based on data from early 2026, large holders with more than 1,000 BTC had been continuously net selling previously; their whale positions closing or selling behavior appeared to have temporarily paused, triggering short-term short covering. In addition, technical buying was triggered near key support levels. Programmatic buy orders or options hedging demand helped improve the price at the margin. The market is also watching the progress of the US 《CLARITY Act》 legislation, with analysts expecting that if the bill is approved in the midterm, it could become a positive catalyst.

Current market volatility risks still need to be watched closely. Fragile on-chain liquidity can amplify the risk of price oscillations, and leveraged speculative positions may trigger cascading liquidations as prices rise. Investors should monitor whether the $70,000 key support level can hold, changes in on-chain fund flows, and macro policy developments; for short-term trades, risk control should be strict.