According to reports from Wu, the Korean won trading pairs on the Korean exchange suddenly began to plummet, with data showing that Bitcoin dropped to a low of $66,500 and XRP fell to a low of $1.16. They have now started to recover. This may be related to the state of emergency announced by the South Korean president. Currently, cryptocurrency exchanges in South Korea are experiencing outages and are almost unable to conduct trades.
According to the Beijing News, the reason Yoon Suk-yeol issued the state of emergency is due to escalating domestic political disputes, with the opposition party disrupting national order through so-called 'anti-state activities.' Currently, specific emergency measures have not been announced. Analysts believe that the recent push by the opposition party for a series of legislation targeting the president's wife, as well as the impeachment of public officials such as prosecutors, may have triggered Yoon Suk-yeol's announcement of the emergency state.
