According to reports from Wu, the Korean won trading pairs on the Korea Exchange suddenly started to plummet, with data showing that Bitcoin dropped to a low of $66,500 and XRP dropped to a low of $1.16. It has now started to recover. This may be related to the emergency decree announced by the South Korean president. Currently, the cryptocurrency exchanges in South Korea are experiencing outages, making trading nearly impossible.
According to the Beijing News, the reason for Yoon Suk-yeol's declaration of a state of emergency is the intensifying domestic political disputes, with the opposition party disrupting national order through what they call 'anti-state activities.' At present, specific emergency measures have not been announced. External analysts believe that the recent push by the opposition party for a series of legislation targeting the president's wife and the impeachment of prosecutors and other public officials may have triggered Yoon Suk-yeol's announcement of the emergency decree.
