The AI ​​hype created a massive bubble on the South Korean stock market. Samsung and SK Hynix shares surged, triggering a rush of small investors into 2x leveraged ETFs, with fund sizes exceeding $9 billion. However, a regulatory announcement on June 22nd triggered panic. The following day, shares fell by more than 12%, while leveraged ETFs lost over 25% of their value. This collapse spread from Asia to Wall Street. The most striking point is this: leverage, entered into in pursuit of high returns, amplified both gains and losses. Despite this, investors continue to take risks. Such sharp periods of risk aversion can also increase short-term selling pressure on Bitcoin and cryptocurrencies.