Step 1 (Range): Bitcoin is trading around $80,494 after pushing through daily liquidity levels between $77,633 and $80,498.
Step 2 (Drivers): Recent U.S. Treasury buyback news coupled with eight consecutive days of spot ETF net inflows totaling over $2.8B continue to bolster bullish market sentiment.
Step 3 (Structure): A massive short-liquidation squeeze cleared legacy short positions, shifting short-term market leverage into a reset, healthy consolidation phase.