Hupzy (Spot On Chain)|Jul 30, 2026 11:41
🚨 South Korea's margin call crisis has hit over 𝟭.𝟮 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 leveraged retail accounts, with 𝟱𝟬𝟬𝗞+ fully liquidated, per Goldman Sachs — roughly 3.4% of the country's adult population.
The KOSPI has fallen another 18% since the July 13th data, meaning liquidations have likely accelerated well beyond the initial count.
𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: This is one of the largest retail deleveraging events in an Asian market in recent memory. South Korea is a major crypto trading hub — forced equity margin calls typically spill into crypto as traders sell liquid assets to cover. The KOSPI's continued decline suggests selling pressure is ongoing. Watch for elevated BTC and ETH selling on Korean exchanges (Upbit, Bithumb) as forced sellers liquidate crypto positions.
BTC is the dominant pair in Korean markets and tradeable on Hyperliquid.
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