Odaily Planet Daily reports that "BTC OG insider" Garrett Jin, an agent, analyzed that Bitcoin’s current breakout above $70,000 is driven by multiple positive factors, including an expansion of U.S. Treasury bond buybacks, the SEC’s plan to introduce a framework for regulating crypto assets, and the White House crypto summit. The current price has entered a dense trapped position range from the latter half of the $60,000s to the low end of the $80,000s, and the first resistance layer has begun to show signs of loosening.

Garrett Jin noted that over the past two months, the region just above $60,000 accumulated a large amount of new-position cost basis, providing bottom support for this breakout. Although a short-squeeze triggered by liquidations may still push Bitcoin higher in the short term to above $80,000, the $80,000 to $82,500 range is a resistance area that must be重点关注, and the momentum from the squeeze is difficult to sustain long term. If, before any breakout, the market can effectively absorb liquidity below $80,000, it would be more favorable for healthy follow-on price action.

On the same day, SK Hynix announced what it said was the largest-scale stock buyback and cancellation plan in South Korean history, pledging to return to shareholders at least 50% of its expected free cash flow before 2027. The share price surged by more than 10% at one point, triggering the KOSPI index’s buy-side circuit breaker mechanism. Analysts believe the move could ease market concerns about a decline in risk appetite for South Korean semiconductor stocks, but it cannot change the cyclical outlook of the memory industry itself.