[Bitcoin Nears $70,000, Driving Crypto-Related Stocks to Surge, Strategy Up Over 12%] Odaily Planet Daily News: As Bitcoin approaches $70,000 and experiences a massive short squeeze, U.S. crypto-related stocks collectively rose. Strategy (MSTR) increased by 12.68% to $104.25, Coinbase (COIN) rose 9.05% to $159.47, Circle (CRCL) climbed 9.56% to $78.59, and BitMine (BMNR) jumped 10.72% to $20.24. At the same time, Bitcoin's short squeeze led to the liquidation of over $1 billion in short positions within an hour. Additionally, the U.S. Treasury announced that starting in September, it will at least double the scale of its long-term Treasury buyback program, driving risk assets higher overall. Strategy and Coinbase are particularly noteworthy, as both companies are large-cap stocks on Wall Street that have been heavily shorted. Coinbase is currently the fifth most shorted stock in the financial sector. As a result, this rally not only caused a squeeze in the crypto derivatives market but may also force U.S. stock investors shorting MSTR and COIN to cover their positions. (Decrypt)