On the evening of December 3, South Korean President Yoon Seok-yeol suddenly declared martial law, causing Upbit, a mainstream cryptocurrency trading platform in South Korea, to collapse instantly. Many cryptocurrencies fell particularly badly, such as BTC, which fell below $70,000, and DOGE, which directly crashed by more than 50%. Those "zombie coins" such as XRP, HBAR, and XLM, which have risen sharply recently, also retreated sharply, which is simply a reappearance of the "regional 312". The collapse of Upbit also affected the entire crypto market.

However, this huge negative premium has brought an opportunity to arbitrage traders, and many traders with Korean KYC have rushed into the market. But I heard that Upbit’s Korean main site is down, but fortunately users can continue to arbitrage through portals in other regions such as Indonesia. Upbit officials also said that it was because of the large trading volume that interrupted the transaction.

The incident is still fermenting, let's continue to read the report:

At 0:11 on December 4, the South Korean parliament voted to lift martial law, and the parliament spokesman asked the police to withdraw from the parliament.

At 00:03 on December 4, South Korean lawmakers also began voting to decide whether to lift martial law.

At 23:55 on December 3, the South Korean National Assembly began a plenary session to prepare for a vote to lift martial law.

At 23:16 on December 3, South Korean-related assets plummeted, and the Korean won fell to its lowest point in two years.

At 22:58 on December 3, Bitcoin on Upbit still had a slight negative premium.

At 22:56 on December 3, within one hour after South Korea declared martial law, more than 163 million USDT flowed into Upbit, probably in an attempt to buy at the bottom.

At 22:50 on December 3, the South Korean Martial Law Command issued a martial law order, banning many activities, including parliament, party activities, strikes, rallies, etc.

At 22:46 on December 3, a Korean crypto KOL said that because of the martial law, people will be checked if they go out after 11pm, and now all centralized trading platforms in South Korea have problems.

At 22:35 on December 3, officials from the Bank of Korea said that if necessary, they would take measures to stabilize the market.

At 22:33 on December 3, after the U.S. stock market opened, those cryptocurrency concept stocks also fell.

At 22:31 on December 3, the South Korean military said that activities of parliament and political parties were banned.

At 22:29 on December 3, a conflict broke out in front of the South Korean National Assembly, and the police were confronting the crowd who wanted to enter the National Assembly.

At 22:25 on December 3, the South Korean Defense Minister proposed to the President to impose martial law.

At 22:20 on December 3, South Korean cryptocurrency exchange Bithumb experienced delays on mobile networks, applications, and PC platforms due to heavy user traffic.

At 22:18 on December 3, Upbit’s transactions were interrupted due to heavy traffic.

At 22:15 on December 3, the leader of South Korea's largest opposition party said that parliament will try to lift the president's martial law order, but the military may arrest members of parliament.

At 22:14 on December 3, South Korean President Yoon Seok-yeol said that the imposition of martial law was intended to eliminate "anti-state forces" in the country.

At 22:13 on December 3, the Korean won continued to fall against the US dollar, reaching a two-year low.

At 22:11 on December 3, the altcoin market on Upbit also experienced a flash crash, but it has now basically returned to normal.

At 22:07 on December 3, the USDC/USDT exchange rate on Upbit rose to 1.2.

At 22:04 on December 3, the price of Bitcoin on Upbit fell to US$71,814, but has now rebounded to US$92,658.13.

At 22:01 on December 3, Bitcoin on Upbit showed a serious negative premium, with a price of US$89,500.

If you have been chasing the ups and downs and are often trapped, and have no direction without the latest news in the currency circle, click on the avatar to follow me, and you will never miss out no matter it is a slow bull stage or sector rotation!
#热门话题 #BTC☀ #韩国戒严如何影响市场？ #下一个换谁涨？