According to BlockBeats, on August 13, South Korea is further tightening the process for transferring crypto assets to overseas platforms after overseas CEX apps such as Bybit and OKX were removed from the local Google Play.

According to the latest amendment to the Enforcement Decree of the Act on Specific Financial Information, South Korean trading platforms will now be required to determine whether to approve transfers based on the risk level of overseas platforms. When transferring funds to certain overseas trading platforms or personal wallets, users may be required to prove account ownership and explain the purpose of the transaction and the source of funds. Transfers may be delayed or refused if the information is insufficient . Transactions exceeding 10 million won will also be included in the exchanges' self-built suspicious transaction monitoring system. These regulations will be implemented six months after their announcement. (News 1)

According to BlockBeats, on August 13th, Glassnode published a market analysis stating that Bitcoin is currently sandwiched between its median realized price (approximately $63,000) and the cost basis for short-term holders (approximately $68,700). Spot trading volume has hit its lowest level since 2019, indicating an extremely quiet and compressed market . Despite core inflation falling to 2.5% in July and the stock market reaching new highs, Bitcoin has shown little reaction or even weakened, indicating a significant lack of demand.

On the other hand, selling pressure is easing: profit supply is nearing the bottom of past bear markets, seller fatigue indicators have hit cyclical lows, and the adjusted SOPR has been rejected nine times near the break-even point. Meanwhile, buyers remain largely absent, with minimal net inflows into ETFs and cryptocurrencies continuing to flow into exchanges; however, leveraged derivatives have already seen large-scale long positions, open interest is relatively high compared to trading volume, and buy orders in the order book are thinning.

Glassnode believes the key levels to watch are $68,700 above and approximately $58,500 below: a decisive break above the former, accompanied by a rebound in trading volume and ETF inflows, would confirm an improvement; a break below the latter could lead to a rapid decline given thin buying pressure and crowded long positions. Glassnode remains cautious, believing this is a late-stage bear market compression phase, and genuine demand signals have yet to emerge.