South Korea's martial law triggers market turbulence, with cryptocurrencies plummeting by 20%-40%!

Political turmoil:

South Korean President Yoon Suk-yeol suddenly announced an emergency martial law this evening to eliminate pro-North Korea forces and maintain a free constitutional system. He accused the opposition party of hijacking the operation of the National Assembly, causing the country to fall into crisis, stating that this move is to protect South Korea from the threat of North Korean communist forces.

Severe blow to the crypto market:

Following the announcement of martial law, the cryptocurrency market experienced significant sell-offs, with some tokens on the South Korean exchange Upbit dropping by 20%-40%:

XRP, DOGE, and XLM all saw declines exceeding 20%;

Bitcoin (BTC) briefly plunged to $63,000 but has since rebounded to the $95,000 level;

Other mainstream cryptocurrencies were also affected, showing noticeable declines.

Market reaction:

The political turmoil in South Korea has significantly impacted the crypto market, with market sentiment extremely fearful and trading volume surging. Although the price of Bitcoin has rebounded, other crypto assets still need time to regain confidence.

Points of concern:

Policy chain reaction: Will the martial law escalate further?

Global market impact: As a crucial crypto trading hub, South Korea's turmoil may trigger broader market fluctuations.

Investors should closely monitor the ongoing developments in South Korea and exercise caution in response to market volatility.#韩国戒严如何影响市场？ #BTC☀