10 #Bitcoin ETFs outflows 4,964 $BTC(-$458.3M) and 9 #Ethereum ETFs outflows 4,701 $ETH(-$15.21M) yesterday.

South Korean media reported that the Korea Composite Stock Price Index (KOSPI) fell below the 7,000-point threshold during intraday trading, triggering the circuit breaker mechanism for the seventh time this year. Driven by renewed geopolitical tensions between the U.S. and Iran, foreign and institutional investors offloaded large volumes of stocks, pushing the index sharply lower. This marks KOSPI’s first intraday drop below 7,000 points in nearly two months, since May 4. Data shows foreign and institutional investors led the sell-off: foreign investors net sold 2.23 trillion won, institutional investors net sold around 570 billion won, while individual investors net bought nearly 2.7 trillion won. Among institutional investors, the National Pension Service net bought around 220 billion won. South Korean stocks have seen extreme volatility recently, swinging between sharp rallies and plunges. During today’s morning trading session, sellers triggered the sidecar mechanism (a temporary halt for program trading) for the 18th time this year; the circuit breaker was activated in the afternoon. Year-to-date, South Korean stocks have recorded 17 buyer-triggered sidecar operations and 18 seller-triggered ones, totaling 35.

Multicoin Capital managing partner Tushar Jain said on a podcast that the crypto market has hit bottom and entered a critical turning phase. He noted that current market sentiment has fully cleared out, recent negative news including major hacks has not triggered mass sell-offs, while rising application adoption rates and the growing divergence between asset prices and fundamentals are both signaling a market reversal, with the current environment shaping a "perfect storm". Jain remains bullish on the long-term potential of Solana (SOL) and Hyperliquid (HYPE), arguing that SOL is ideal infrastructure for spot trading and tokenized securities development, while Hyperliquid holds a leading position in on-chain derivatives. He currently holds significant allocations to both assets across his personal and Multicoin’s institutional funds. Additionally, he revealed that Multicoin has accumulated a substantial portion of Zcash (ZEC)’s total supply, and views the project as a return to cypherpunk ideals, with potential to rank among the top five crypto assets by market cap in the future. For position management, Jain uses a "trichotomy" strategy: allocating one-third of capital immediately, deploying a second portion via dollar-cost averaging (DCA), and holding the final third to hedge against sharp market pullbacks. Following Zcash’s earlier code vulnerability incident, after the team confirmed no exploitation by hackers, Jain increased his position in the asset.

According to Bitget market data, WTI crude oil prices rose 5.0% intraday to $75 per barrel. Reports indicate that Iran’s Islamic Revolutionary Guard Corps has attacked U.S. military assets in Oman and Bahrain.

According to Bitget market data, the Southern 2x Long Samsung Electronics product’s decline widened to 20% in the afternoon, while the Southern 2x Long SK Hynix product dropped more than 30%.

According to Bitget's market data, South Korea's KOSPI index dipped to 6,800 points, falling 9.07% intraday. SK Hynix is currently down 14.5%, while Samsung Electronics has dropped 11%.

According to Hyperinsight monitoring, following SK Hynix’s continued sharp drop, the SKHYNIX perpetual contract on Binance trades at $1,275, down 13.82% over 24 hours; the SKHYNIX contract on Hyperliquid is around $1,261.80, down 14.50% in the same period. The price gap between the two is roughly $13.3, with Binance’s transaction price carrying a premium of about 1.05% over Hyperliquid. Calculated by mark price, Binance’s mark price is $1,273.80, while Hyperliquid’s is $1,257.60, widening the spread to $16.20, with a premium of approximately 1.29%. Yet the reference prices on both platforms are largely aligned: Binance’s index price stands at $1,240.97, and Hyperliquid’s oracle price is $1,242.00, a difference of just $1.03. Funding rates also signal that long positions remain crowded: Binance’s 8-hour funding rate has climbed to 0.5%; Hyperliquid’s hourly funding rate is around 0.0698%, translating to roughly 0.56% on an 8-hour static basis, with both rates requiring long positions to pay short positions.