South Korea's Martial Law Triggers Market Turmoil, Cryptocurrency Plummets 20%-40%!

Political Turmoil:

South Korean President Yoon Suk-yeol suddenly announced the implementation of emergency martial law this evening to eliminate pro-North Korean 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.

Cryptocurrency Market Devastation:

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

XRP, DOGE, XLM all fell over 20%;

Bitcoin (BTC) briefly spiked to $63,000, currently rebounding to the $95,000 level;

Other major cryptocurrencies also experienced noticeable declines.

Market Reaction:

The political turmoil in South Korea has had a significant impact on the cryptocurrency market, with extreme panic in market sentiment and a surge in trading volume. Although Bitcoin's price has rebounded, other crypto assets still need time to regain confidence.

Points of Concern:

Policy Chain Reaction: Will martial law escalate further?

Global Market Impact: As an important cryptocurrency trading hub, turmoil in the South Korean market may trigger broader market fluctuations.

Investors should closely monitor the developments in the South Korean situation and operate cautiously to cope with market volatility.#韩国戒严如何影响市场？ #BTC☀