The South Korean cryptocurrency market is experiencing significant capital outflows, with trading volumes shrinking by more than 80% compared to last year's peak. At the same time, the South Korean stock market (KOSPI) has attracted a large amount of retail capital due to the AI boom, with daily trading volumes increasing more than twice, and the scale of investor deposits continuously hitting historical highs. This 'capital migration' is the result of the cooling global cryptocurrency market, stricter regulations, and the strong performance of traditional stock markets. South Korean retail investors, as important participants in the cryptocurrency market, may continue to influence the liquidity and price momentum of digital assets. $BTC