Bitcoin stages a desperate rebound, “returns to near $66,000”—the short-sellers get slaughtered, $325 million liquidated as the FOMC shadow still looms overhead

Bitcoin surged back from the June 6 low of $59,353. On Sunday morning, it was trading at $65,366; ETH returned to $1,710; and SOL rose by over 2.3%. Over the past 24 hours, liquidations totaled $325.00M, with short positions accounting for 71%, resulting in a brutal short squeeze and “bloodbath” across shorts. Bitcoin spot ETFs saw net inflows of $85.85M on 6/12, breaking a streak of five consecutive days of net outflows. The FOMC arrives on 6/16-17, but the rebound’s foundation remains fragile.
(Background recap: Bitcoin fell back to $62,400! The ETF market saw the largest-ever weekly outflow of $3.4B, wiping out $283M in long positions as well.)
(Additional background: Bitcoin staged a desperate rebound—“back to nearly $64k”! The short side was badly bloodied, with 97k liquidations exceeding $270M.)

Table of Contents

Toggle

• Short squeeze: $325.00M liquidations in 24 hours, shorts account for roughly seventy percent
• Three rebound engines: US-Iran talks, ETF inflows returning, and technically oversold conditions
• Other coins: SOL leads, XRP closely follows
• Sentiment remains in extreme fear—the FOMC is the real test

Bitcoin has climbed back from the bottom. On Sunday (6/15) at 9:25 AM, BTC is at $65,366. The 24-hour high touched $65,923, rebounding more than 10% from the deepest drop on June 6 to $59,353. ETH is at $1,710, also rebounding from the 6/6 low of $1,522, with a 24-hour gain of 1.34%. The panic-driven cutting from last week is being worked through gradually, but whether the bulls can hold their ground depends on how the Federal Reserve looks next week.

Short squeeze: $325.00M liquidations in 24 hours, shorts account for roughly seventy percent

The most direct outcome of the rebound is the sheer brutality of the shorts getting wiped out. According to CoinGlass data, the total liquidation across the entire market over the past 24 hours reached $325.46M (about $325 million). Long liquidations were only $93.06M (about 29%), while short liquidations surged to $232M (71%), making the squeeze pattern obvious. In just the last 12 hours alone, liquidation value accounted for $285.96M, with shorts contributing $219.56M. The largest single liquidation in the entire market was $2.46M. After the market fell from the early-June peak of $73,683, the downward correction boosted short confidence—only for this rebound to make them step right into a trap as a group.

Three rebound engines: US-Iran talks, ETF inflows returning, and technically oversold conditions

This rebound did not come out of nowhere—three triggers hit at the same time:

• Expectations for US-Iran talks: On June 11, Trump announced the cancellation of plans for military strikes against Iran. On June 13, reports said a US-Iran peace agreement could be finalized within 24 hours. Global risk appetite rapidly rebounded (risk-on). In the US stock market, the S&P 500 closed up 0.5% to 7,431 on Friday, and the SpaceX IPO opened with a jump that further ignited sentiment in the tech sector.
• ETF net inflows reversed: Bitcoin spot ETFs saw a single-day net inflow of $85.85M on June 12, breaking the gloom of the previous five consecutive trading days of net outflows. In the week of early June, the market posted about $3.4B in the largest weekly outflow in history. The signal that institutional funds re-enter after the correction is not something to ignore.
• A technical oversold rebound: BTC fell from the 6/1 high of $73,683 to the 6/6 low of $59,353, a drop of nearly 20%. RSI moved into oversold territory, accelerating short-term “bottom-fishing” buying.

But one rebound killer is already waiting: the FOMC rate decision meeting on June 16-17 (tomorrow and the day after). Nick Timiraos, the Fed’s “mouthpiece,” warned on June 10 that the May CPI data did not help with rate cuts, and the Fed’s outlook may have even extended to whether to “restart rate hikes.” How far the rebound can go depends largely on Powell’s wording.

Other coins: SOL leads, XRP closely follows

In this rebound, SOL is the standout, trading at $70.71 and up 2.35% over 24 hours. It rebounded more than 15% from the 6/6 low of $60.98, and the 24-hour high reached $71.73. XRP is at $1.1782, up 1.93%, with a 24-hour range between $1.1268 and $1.1888—still some distance from the $1.33 high on 6/1. Altcoins generally follow BTC’s pace, with no clear independent trend. The rebound momentum is moving in step with the majors.

Sentiment remains in extreme fear—the FOMC is the real test

Today’s fear and greed index is 20 (extreme fear). Yesterday it was 18. Last week it even fell to just 8. While the number has bounced back from the bottom, market sentiment has not yet turned toward greed. This combination of “panic in people’s hearts, yet prices rebounding” often means the rebound is not a confirmed bottom, but a technical repair after being oversold.

Next week’s key: if the FOMC maintains a hawkish tone (implying no rate cuts, or even rate hikes), this crypto rebound is likely to fall short. Conversely, if Powell issues a more dovish signal, alongside the US-Iran peace agreement coming together, it’s not impossible for BTC to retest the 6/1 high of $73,683. Shorts have been squeezed today, but bulls’ confidence will have to wait until Wednesday to be proven.