BTC 15-minute short-term rally up 0.95%: technical support triggers buy orders; miners’ accumulation and demand signals resonate

Between 02:15 and 02:30 UTC on June 4, 2026, the BTC price rebounded from 62,149.1 USDT to 63,097.2 USDT, delivering a +0.95% return within 15 minutes, with a swing of 1.52%. The price returned to the $63,000 level.

The main driver behind this short-term price anomaly is a technical rebound. After the price tested the key technical support area following the June 3 low of $61,383.56, it attracted algorithmic buy orders. On-chain data shows the current market price is slightly higher than the realized price by about 5% (realized price $62,120). The MVRV ratio is around 1.41, indicating valuation remains within a reasonable range, providing valuation support for a technical rebound.

At the same time, several on-chain indicators are converging. First, exchange BTC balances have continued to decline to below 3 million BTC, and the 7-day average outflow has reached a 19-month low, suggesting that selling pressure has been fully released. Second, the MPI metric at -0.53 indicates miners are in an accumulation mode, implying confidence in future price action. Third, the exchange inflow/outflow ratio has stayed above 1.125, meaning for every unit of BTC flowing out, there are 1.125 units flowing in—buyers need to remain stronger than sell pressure. From an institutional perspective, the marginal relief of large ETF outflow pressure in early June may trigger short-covering.

However, upside room remains constrained. Over the past week, Hodler net holdings of long-term holders fell 7.69% to 39,049 BTC, showing that even steadfast holders are reducing positions. Total ETF outflows have already exceeded $4.21 billion, and macro policy uncertainty will also weigh on price performance.

In the near term, investors should watch the $62,120 support level and the $63,500-$65,000 resistance zone. On-chain capital flow direction and the ETF’s daily net inflows will be key indicators to monitor.