diff --git a/packages/svelte/src/internal/client/reactivity/deriveds.js b/packages/svelte/src/internal/client/reactivity/deriveds.js
index d7a093a1dafe..7e6f3c6f604f 100644
--- a/packages/svelte/src/internal/client/reactivity/deriveds.js
+++ b/packages/svelte/src/internal/client/reactivity/deriveds.js
@@ -26,7 +26,7 @@ import {
 import { equals, safe_equals } from './equality.js';
 import * as e from '../errors.js';
 import * as w from '../warnings.js';
-import { async_effect, destroy_effect, teardown } from './effects.js';
+import { async_effect, destroy_effect, effect_tracking, teardown } from './effects.js';
 import { eager_effects, internal_set, set_eager_effects, source } from './sources.js';
 import { get_stack } from '../dev/tracing.js';
 import { async_mode_flag, tracing_mode_flag } from '../../flags/index.js';
@@ -365,8 +365,14 @@ export function update_derived(derived) {
 		return;
 	}
 
+	// During time traveling we don't want to reset the status so that
+	// traversal of the graph in the other batches still happens
 	if (batch_values !== null) {
-		batch_values.set(derived, derived.v);
+		// only cache the value if we're in a tracking context, otherwise we won't
+		// clear the cache in `mark_reactions` when dependencies are updated
+		if (effect_tracking()) {
+			batch_values.set(derived, derived.v);
+		}
 	} else {
 		var status = (derived.f & CONNECTED) === 0 ? MAYBE_DIRTY : CLEAN;
 		set_signal_status(derived, status);
diff --git a/packages/svelte/src/internal/client/reactivity/sources.js b/packages/svelte/src/internal/client/reactivity/sources.js
index 0b5ad33bfcb1..8ae406b57b30 100644
--- a/packages/svelte/src/internal/client/reactivity/sources.js
+++ b/packages/svelte/src/internal/client/reactivity/sources.js
@@ -34,7 +34,7 @@ import * as e from '../errors.js';
 import { legacy_mode_flag, tracing_mode_flag } from '../../flags/index.js';
 import { get_stack, tag_proxy } from '../dev/tracing.js';
 import { component_context, is_runes } from '../context.js';
-import { Batch, eager_block_effects, schedule_effect } from './batch.js';
+import { Batch, batch_values, eager_block_effects, schedule_effect } from './batch.js';
 import { proxy } from '../proxy.js';
 import { execute_derived } from './deriveds.js';
 
@@ -334,12 +334,17 @@ function mark_reactions(signal, status) {
 		}
 
 		if ((flags & DERIVED) !== 0) {
+			var derived = /** @type {Derived} */ (reaction);
+
+			batch_values?.delete(derived);
+
 			if ((flags & WAS_MARKED) === 0) {
 				// Only connected deriveds can be reliably unmarked right away
 				if (flags & CONNECTED) {
 					reaction.f |= WAS_MARKED;
 				}
-				mark_reactions(/** @type {Derived} */ (reaction), MAYBE_DIRTY);
+
+				mark_reactions(derived, MAYBE_DIRTY);
 			}
 		} else if (not_dirty) {
 			if ((flags & BLOCK_EFFECT) !== 0) {
diff --git a/packages/svelte/src/internal/client/runtime.js b/packages/svelte/src/internal/client/runtime.js
index 5f59b7aeacd3..74797f3b56fe 100644
--- a/packages/svelte/src/internal/client/runtime.js
+++ b/packages/svelte/src/internal/client/runtime.js
@@ -179,7 +179,12 @@ export function is_dirty(reaction) {
 			}
 		}
 
-		if ((flags & CONNECTED) !== 0) {
+		if (
+			(flags & CONNECTED) !== 0 &&
+			// During time traveling we don't want to reset the status so that
+			// traversal of the graph in the other batches still happens
+			batch_values === null
+		) {
 			set_signal_status(reaction, CLEAN);
 		}
 	}
@@ -611,17 +616,7 @@ export function get(signal) {
 	} else if (is_derived) {
 		derived = /** @type {Derived} */ (signal);
 
-		var should_reconnect = is_updating_effect && effect_tracking() && (derived.f & CONNECTED) === 0;
-
 		if (batch_values?.has(derived)) {
-			// This happens as part of is_dirty normally, but we return early
-			// here so we need to do it separately
-			remove_marked_flag(derived);
-
-			if (should_reconnect) {
-				reconnect(derived);
-			}
-
 			return batch_values.get(derived);
 		}
 
@@ -629,7 +624,7 @@ export function get(signal) {
 			update_derived(derived);
 		}
 
-		if (should_reconnect) {
+		if (is_updating_effect && effect_tracking() && (derived.f & CONNECTED) === 0) {
 			reconnect(derived);
 		}
 	} else if (batch_values?.has(signal)) {
@@ -662,23 +657,6 @@ function reconnect(derived) {
 	}
 }
 
-/**
- * Removes the WAS_MARKED flag from the derived and its dependencies
- * @param {Value} derived
- */
-function remove_marked_flag(derived) {
-	// We cannot stop at the first non-marked derived because batch_values can
-	// cause "holes" of unmarked deriveds in an otherwise marked graph
-	if ((derived.f & DERIVED) === 0) return;
-
-	derived.f &= ~WAS_MARKED;
-
-	// Only deriveds with dependencies can be marked
-	for (const dep of /** @type {Value[]} */ (/** @type {Derived} */ (derived).deps)) {
-		remove_marked_flag(dep);
-	}
-}
-
 /** @param {Derived} derived */
 function depends_on_old_values(derived) {
 	if (derived.v === UNINITIALIZED) return true; // we don't know, so assume the worst
diff --git a/packages/svelte/tests/runtime-runes/samples/async-derived-in-multiple-effects/_config.js b/packages/svelte/tests/runtime-runes/samples/async-derived-in-multiple-effects/_config.js
index 600e7f096b0a..15bb42074f73 100644
--- a/packages/svelte/tests/runtime-runes/samples/async-derived-in-multiple-effects/_config.js
+++ b/packages/svelte/tests/runtime-runes/samples/async-derived-in-multiple-effects/_config.js
@@ -7,12 +7,10 @@ export default test({
 
 		button?.click();
 		await tick();
-		// TODO this is wrong: it should be [5]
-		assert.deepEqual(logs, [4]);
+		assert.deepEqual(logs, [5]);
 
 		button?.click();
 		await tick();
-		// TODO this is wrong: it should be [5, 7]
-		assert.deepEqual(logs, [4, 7]);
+		assert.deepEqual(logs, [5, 7]);
 	}
 });