According to BlockBeats, on August 23, data from Coinglass indicated that if Bitcoin falls below $75,000, the cumulative liquidation intensity of long positions on major CEXs will reach $1.085 billion.

Conversely, if Bitcoin breaks through $78,000, the cumulative short position liquidation intensity on major CEXs will reach $609 million.

BlockBeats Note: The liquidation chart does not show the exact number of contracts pending liquidation, or the exact value of contracts being liquidated. The bars on the liquidation chart actually represent the importance, or strength, of each liquidation cluster relative to its neighboring liquidation clusters.

Therefore, the liquidation chart shows the extent to which the price of an asset is affected when it reaches a certain level. Higher "liquidation bars" indicate that the price will react more strongly due to liquidity surges once it reaches that level.

According to BlockBeats, on August 23, HTX market data showed that Ethereum fell below $2,400, a 24-hour drop of 4.9%.

According to a Reuters report on August 23, the Korea Composite Stock Price Index (KOSPI) has fallen 30% from its June 19 high, with the stock market frenzy previously fueled by the AI boom and leveraged funds quickly turning into pessimism. The South Korean government had planned to eliminate the "Korean discount" by introducing more investment tools and improving corporate governance, but the sharp market volatility has raised questions about the effectiveness of these policies and investors' risk tolerance.

On May 27, South Korean regulators allowed the listing of single-stock leveraged ETFs, requiring investors to complete only one hour of training and deposit at least 10 million won to participate. During the same period, Samsung Electronics and SK Hynix both reached a market capitalization of $1 trillion, driving the KOSPI index more than double from its October level and surpassing 8,000 points. Retail investors borrowed heavily to chase the AI rally, causing the KOSPI's margin balance to grow by approximately 75% this year, reaching a record 29.8 trillion won on June 24.

Since Samsung Electronics and SK Hynix together account for over 53% of the total market capitalization of the KOSPI, leveraged products further amplified market volatility. In early July, South Korea's VKOSPI fear index rose to 97.99, the highest level since records began in 2009. Citigroup estimated on July 28 that retail investors had lost $38.7 billion on leveraged ETFs.

The market correction has also brought social pressure. A Seoul psychiatrist stated that the number of patients he sees related to stock investments has risen from 7 to 8 per day last year to an average of 11 per day since June this year. Busan police have also arrested a man in his 20s suspected of stabbing a YouTuber, who is accused of blaming the YouTuber for stock losses. Currently, South Korean authorities have tightened restrictions on individual investment in leveraged ETFs, and analysts believe that excessive volatility could also affect South Korea's goal of being included in the MSCI Developed Markets Index.