According to the latest Financial Stability Report released by the Bank of Korea, the activity level of the South Korean cryptocurrency market remains higher than the global average, at 157% and 112% respectively. However, when Bitcoin surpasses $100,000 in 2025, South Korean retail investors' behavior has shifted from actively building positions to concentrated profit-taking and significant cashing out. The report points out that 91.2% of the trading volume in the South Korean cryptocurrency market is contributed by the top 10% of accounts, leading to an increased risk of market manipulation. The Bank of Korea warns that if institutional and ETF access is liberalized, the South Korean market's vulnerability to global volatility will be exacerbated. Currently, related hot money has shifted to the South Korean stock market and leveraged ETFs in the US stock market.