South Korean exchanges today pulled an emergency circuit breaker, and algorithmic trading was directly shut down.
This isn’t a drill. The last time KRX pulled a circuit breaker was back in March 2020. A sharp drop in Korean stocks triggered a stampede-style escape by retail investors. South Korea is the world’s third-largest cryptocurrency market, and tonight’s panic could directly spread to the $BTC and $ETH .
BTC is stuck around 65,200, and 64,500 is the final line of defense.
A look at the $BANK liquidation chart—there’s about $2 million worth of short positions stacked above 0.234. Wherever shorts are clustered is basically a powder keg; pull the trigger and it blows.
This Asian session will be rough tonight—don’t rush to buy the dip.
#KRX #Korea suddenly collapses
This isn’t a drill. The last time KRX pulled a circuit breaker was back in March 2020. A sharp drop in Korean stocks triggered a stampede-style escape by retail investors. South Korea is the world’s third-largest cryptocurrency market, and tonight’s panic could directly spread to the $BTC and $ETH .
BTC is stuck around 65,200, and 64,500 is the final line of defense.
A look at the $BANK liquidation chart—there’s about $2 million worth of short positions stacked above 0.234. Wherever shorts are clustered is basically a powder keg; pull the trigger and it blows.
This Asian session will be rough tonight—don’t rush to buy the dip.
#KRX #Korea suddenly collapses