On November 5th, Eastern Time, the Nasdaq fell 5.5%, the S&P 500 fell 4.4%, and Nvidia fell 9.3%. BTC also declined during the same period, falling nearly 5% in 24 hours to around $76,000. On November 6th, when the South Korean market opened, the KOSPI fell over 8%, triggering a Level 1 circuit breaker at 9:03 AM, suspending trading for 20 minutes. During the Asia-Pacific session, BTC continued to decline, reaching around $75,200. Price synchronization does not equate to cross-market transmission. Whether funds are flowing from the stock market to crypto, or whether institutions are mitigating risk across assets, requires separate verification of spot market fund flows, leverage liquidations, and ETF creation and redemption data. Conclusions cannot be drawn solely based on synchronized market movements.