According to @Excellion on X on Oct 5, 2025, roughly $6 billion of Korean seohak gaemie retail capital is supporting Ethereum treasury companies and keeping ETH prices elevated (source: @Excellion on X). According to @Excellion, ETH influencers have been traveling to South Korea to market to retail, indicating concentrated demand from Korean investors (source: @Excellion on X). According to @Excellion, many of these buyers are not watching the ETHBTC chart, creating relative-performance risk versus BTC (source: @Excellion on X). The source warns this setup will not end well, flagging downside risk for ETH and the ETHBTC pair if the highlighted support dynamics change (source: @Excellion on X).