**Bitcoin Takes a Wild Ride in South Korea Amid Martial Law Drama**
Bitcoin prices on South Korean exchanges plunged by $30,000 following President Yoon Suk Yeol's martial law declaration on Dec. 3. The move, aimed at countering "anti-state elements," sparked market chaos, with BTC dropping to around 92 million KRW ($65,000) on Upbit.
The sharp decline was attributed to a liquidity crisis, as key market players vanished, creating a 10% spread. Trader Ltrd noted the limited market participation exacerbated the volatility.
However, the situation stabilized after lawmakers nullified the martial law, with Bitcoin rebounding to 135 million KRW ($95,000). This incident underscores the fragility of South Korea's crypto market during political upheavals.