ME News report, August 13 (UTC+8): Garrett Jin, agent of “1011 Insider Whale,” released the latest weekly market analysis, reviewing recent price movements of South Korean equities, gold, Bitcoin, and SpaceX: Regarding SpaceX, Garrett Jin noted that the team previously highlighted a buying opportunity on August 6, the day of the lock-up expiration. On that day, approximately 911.5 million insider shares were released, more than doubling the float, while around 35% of the outstanding shares were held short, leading to widespread expectations of downward pressure on the stock price. However, SpaceX defied expectations, rising approximately 22% over two days, adding roughly $327 billion in market value and reclaiming its $135 IPO price. Calculated from the prior recommendation level of around $110, the one-week gain reached approximately 35%. Garrett Jin believes that the combination of large-scale lock-up expirations and high short interest acted as a catalyst, as the market had already priced in selling pressure. Nevertheless, SpaceX continues to face ongoing lock-up expirations, including approximately 319 million shares on August 20 and an estimated 700 million shares each in September and October. Therefore, the $160 level is more suitable as a profit-taking zone rather than a level to chase upward momentum. On macro assets, Garrett Jin stated that gold’s recent rally exceeded expectations, rising 7.8% in one week and peaking at $4,467, driven by expectations of a weaker U.S. dollar, weak U.S. employment data, and reduced market expectations for rate hikes. However, gold’s short-term momentum has become crowded, and a pullback may present the next opportunity to add positions. In contrast, Bitcoin has shown relatively weak performance, trading sideways around $63,600, still constrained by support at $62,500 and resistance between $65,000 and $70,000. Nevertheless, he believes the bottom structure initiated in July at $57,700 is still gradually forming. Regarding the South Korean market, Garrett Jin noted that the team had waited for SK Hynix (000660) to retest its key support level before re-entering. The stock recently pulled back to around KRW 1.42 million, touching the second support level of its prior “double bottom” pattern, before swiftly rebounding; on August 13, it intraday peaked at KRW 1.634 million and closed up 5.9%. He believes the South Korean equity market remains in a broad trading range rather than entering a new trend. Overseas capital has yet to convert short-term trading activity into long-term allocation, and pressure from leveraged ETFs continues to weigh on sentiment. Strategically, Garrett Jin views KRW 1.634 million as the first-stage profit-taking zone, with the next target at KRW 1.85 million. (Source: ODAILY)
Garrett Jin Analyzes SpaceX Unlocking, Bitcoin Awaits Breakout Signal
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Summary
Garrett Jin’s Bitcoin analysis on August 13, 2026, noted the asset remains in a breakout watch phase near $63,600, with resistance between $65,000 and $70,000. He highlighted SpaceX’s strong performance following a major unlock, with shares rising 22% over two days despite a 911.5 million share float increase. Jin warned of additional unlocks in August, September, and October. He also reviewed SK Hynix’s rebound in Korea, suggesting 1.63 million KRW as a first profit-taking level.
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