On Stream X, one LTrd trader said that if liquidity was normal, the drop would not have been as severe. However, according to this trader, when martial law was declared, all the players disappeared from the market.
The analyst wrote:
The reason is simple: the Korean market is very difficult to enter and trade. In other words, there are only a limited number of players who can provide liquidity and arbitrage divergences.
Korean traders are paying the price for the market being limited to a few players, Ltrd says.
trader also noted the massive selling pressure on all commodities that caused the sharp drop. Despite this, Ltrd says the market overreacted and the extreme price drop would not have happened if more liquidity providers had come to the Korean market.
hours after martial law was declared, 190 members of the South Korean parliament voted in favor of lifting martial law. President Yun agreed and lifted the martial law, easing tensions.
After the decree was lifted, the price of #bitcoin #rose and was trading at around 135 million won ($95,000) at the time this article was published.
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