The South Korean stock market has only triggered circuit breakers a total of 13 times since the mechanism was established in 2000.

This month, the overall drop in the Korean stock market has reached 27%, triggering circuit breakers 7 times across the entire market, accounting for more than half.

What level does this correspond to in the cryptocurrency space?

I estimate that the current atmosphere in South Korea is indeed very pessimistic—

because retail investors in the South Korean market generally use leverage of 2 to 6 times, coupled with a harsh maintenance margin of 140% to 150%.

In other words, as long as the KOSPI index drops by 30%, most leveraged investors will be liquidated.

At least in the last couple of days, the South Korean index has been trending downward, clearing financing accounts with less than 2 times leverage, aiming for a thorough sweep.

What did that Korean girl say before? Something about the best summer, I forgot because it was too long.

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