Sudden Nighttime Announcement! South Korean President Declares 'State of Emergency', Won Drops in Response... In the Cryptocurrency Market, Over 200,000 People Liquidated.

On December 3 local time, due to escalating domestic political disputes, South Korean President Yoon Suk-yeol announced a 'state of emergency.' As a result, the US dollar against the South Korean won rose sharply, increasing more than 1.5%. Additionally, the Ishares MSCI Korea ETF fell 3.1% in pre-market trading. Samsung Electronics dropped more than 4% in the London market.

Gold has risen sharply, with London gold up 0.48% and COMEX gold up 0.56% as of the time of writing. International oil prices are rising, with ICE Brent and NYMEX WTI crude both increasing nearly 2% during the session. According to four OPEC+ sources, OPEC+ may extend the latest round of production cuts to the end of the first quarter of next year in Thursday's meeting, providing additional support to the oil market.

Bitcoin continues to adjust, and as of the time of writing, it has fallen below $95,000 per coin. Coinglass data shows that over 200,000 people in the cryptocurrency market have been liquidated in the past 24 hours.

The South Korean president declared a 'state of emergency' late at night.

According to a comprehensive report from CCTV News and CCTV International News, on December 3 local time, due to escalating domestic political disputes, South Korean President Yoon Suk-yeol announced a 'state of emergency.' Yoon listed several reasons, claiming that the opposition party has hijacked the National Assembly and disrupted the country, stating that they will eliminate 'anti-national forces' within South Korea. Specific emergency measures are currently unknown.

Subsequently, South Korea's largest opposition party, the Democratic Party, convened an emergency meeting of lawmakers; the South Korean Minister of Defense called a meeting of major commanders across the nation; South Korean Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok convened an emergency meeting related to the state of emergency; the head of the South Korean National Police Agency held an emergency meeting with senior officials; and the Ministry of Foreign Affairs held an emergency meeting to discuss matters related to the state of emergency.

In addition, the representative of the ruling party in South Korea, Han Dong-hoon, stated that President Yoon Suk-yeol's announcement of a 'state of emergency' is a mistake and that they will 'stop it together with the people.'

It is reported that the leader of South Korea's largest opposition party, Lee Jae-myung, called on the South Korean public to go to the National Assembly to protect it. Meanwhile, the majority of National Assembly members and the Speaker of the National Assembly are heading to the National Assembly.

However, currently, the entrances and exits of the South Korean National Assembly are closed, and National Assembly members cannot pass. The opposition party assistant group and the police are in a standoff at the entrance of the National Assembly.

In the market, the US dollar against the South Korean won rose sharply, increasing more than 1.5%.

Additionally, the Ishares MSCI Korea ETF fell 3.1% in pre-market trading. Samsung Electronics dropped more than 4% in the London market.

Gold has also risen sharply, with London gold up 0.48% and COMEX gold rising 0.56% as of the time of writing.

International oil prices surged.

International oil prices rose sharply, with ICE Brent and NYMEX WTI crude both increasing nearly 2% during the session.

In market news, four OPEC+ sources indicated that OPEC+ may extend the latest round of production cuts to the end of the first quarter of next year during Thursday's meeting, providing additional support to the oil market. OPEC+'s original goal was to eliminate production cuts by 2025. However, slowing global demand and rising production outside OPEC have hindered this plan and pressured oil prices. One source said, 'The production cuts may continue into the first quarter.' Another source mentioned that the likelihood of a six-month extension is low.

Analysts from Deutsche Bank stated that if OPEC+ decides to further delay the expected increase in production, oil prices may respond mildly. OPEC+ is expected to decide on Thursday to postpone the increase in production for another three months until the end of the first quarter. However, some uncertainties remain. The UAE has been allowed to gradually increase its production by 300,000 barrels per day starting next January. Analysts find it hard to imagine that the voluntary production cut agreement would continue to be fully implemented for three months while allowing one country to increase production.

Bitcoin has fallen below $95,000.

Previously, Bitcoin was approaching $100,000 per coin, but it has been adjusting recently and has fallen below $95,000 per coin as of the time of writing.

At the same time, Coinglass data shows that over 200,000 people in the cryptocurrency market have been liquidated in the past 24 hours.

Bitcoin is currently undergoing adjustments, leading to market divergence regarding its future trend.

Naeem Aslam, an analyst at Zaye Capital Markets, stated in a report that concerns over Bitcoin's ongoing consolidation linger, which may lead to further declines before a rebound occurs.

A senior analyst at a New York investment bank stated that Bitcoin is expected to soar to $225,000 by the end of 2026, which means Bitcoin's price could rise over 130% from current levels.

Notably, SoSoValue data shows that in November, 12 Bitcoin ETFs in the US attracted a record net inflow of $6.2 billion. This wave of enthusiasm was primarily driven by Bitcoin's price nearing the historic high of $100,000. Bitcoin previously rose to $99,700, just $300 shy of the $100,000 mark. Investors are eagerly anticipating cryptocurrency policies after Trump's election as president, as he promises to ease the regulatory restrictions imposed by the Biden administration and plans to appoint regulatory heads supportive of digital assets. Analysts believe that the SEC may further promote the launch of other cryptocurrency asset ETFs. With favorable policies, corporate and retirement fund allocations towards digital assets like Bitcoin are expected to be more proactive.