According to CoinMeta, CICC Research pointed out that since mid-to-late June, there has been a significant correction in the global AI chain, with the Korean market experiencing the most intense decline due to high leverage, high congestion, and a large number of retail investors. This correction was influenced by multiple factors, including rising expectations for interest rate hikes by the Federal Reserve and the blockade of the Strait of Hormuz, which drove up oil prices. At the same time, concerns about the AI bubble in the market are also intensifying. Looking back before the bubble burst in March 2000, tech stocks experienced four major corrections. For the current market to stabilize and see a new round of gains, it needs to digest the issues of high congestion and high leverage, alleviate expectations for interest rate hikes, and rely on financial reports and industry catalysts.