According to BlockBeats, on August 20th, Garrett Jin, an agent of "BTC OG Insider Whale," stated that Bitcoin's price broke through its previous trading range of approximately $65,000 this week, marking its largest single-day gain since March and surpassing $70,000. This breakout was driven by multiple factors, including the US Treasury's expanded bond buyback program, the US Securities and Exchange Commission's (SEC) proposed regulatory framework for cryptocurrency issuance, and the White House cryptocurrency summit. Bitcoin is currently in a densely packed area of trapped investors between the latter half of $60,000 and the lower end of $80,000, where the first resistance level has shown significant weakening.

Bitcoin's current market bottom is one of the strongest phases in this cycle, with a significant amount of new holding costs accumulating in the $60,000 area over the past two months, providing some support for this breakout. Although this rally was partly driven by short covering, and such a "short squeeze" momentum is unlikely to last, short-term momentum may still push Bitcoin higher and increase the probability of breaking through $80,000. However, $80,000 to $82,500 remains a key resistance area to watch, and whether it can be effectively broken will depend on trading volume and price action; if it can continue to accumulate positions below $80,000 before breaking through, a healthier upward structure may form.

In addition, SK Hynix announced this week the largest share buyback and cancellation program in the history of the South Korean market, and pledged to return at least 50% of its projected free cash flow by 2027 to shareholders through share buybacks and dividends. Following the announcement, SK Hynix's stock price surged by over 10%, driving the Korea Composite Stock Price Index (KOSPI) to a strong rise that triggered a buy-side circuit breaker. Analysts believe that this buyback is expected to alleviate previous market concerns about declining risk appetite for South Korean semiconductor stocks, leveraged ETF liquidation, and the peak of the memory chip cycle, but it cannot change the cyclical trend of the memory chip industry itself.

According to BlockBeats, on August 20, Karen Manner, fixed income strategist and portfolio manager at Hermès Investment Management, stated in a report that U.S. inflation remains the dominant concern for policymakers.

Federal Reserve officials have maintained a remarkable consistency on this message. Policymakers have also repeatedly stated that the current U.S. labor market is no longer seen as a primary source of inflationary pressures. Instead, employment is increasingly viewed as closer to equilibrium. As a result, the policy framework has shifted from labor market concerns to inflation as the primary variable.