Do you know how many people have noticed the abnormality of this round of pullback?

Those who often pay attention to the macro environment should have found the answer by now!

Let me state the conclusion first: National level short selling! The volatility in the South Korean market affects the whole world.

The turmoil in South Korea has led to insufficient purchasing power for Bitcoin, resulting in a massive sell-off,

causing a global pullback.

To state the conclusion again: This round of pullback is mainly influenced by the South Korean market!

Affected South Korean market: The impact of the South Korean president's announcement of a state of emergency.

The cryptocurrency market in South Korea collectively plunged, with Upbit's BTC dropping by 30% at one point, down to $66,500, and XRP plummeting by 60%;

The Korean won further depreciated against the US dollar, reaching its lowest level since October 2022, with a daily drop of 1.9%;

The iShares MSCI South Korea ETF fell by 5.1% in the US market, marking the largest single-day drop since August 5;

Samsung Electronics' stock price listed in London fell by 5%.

Of course, now that the gag order has been lifted, we will see a significant rebound in the short term. This provides strong momentum to break through the 100,000 mark.