South Korea suddenly announced the lifting of the martial law, why did the global market react so strongly?
Have you ever thought about what impact a sudden policy change could have on the cryptocurrency market? Just after South Korean President Yoon Suk-yeol announced the lifting of the martial law, major cryptocurrencies such as Bitcoin, Ethereum, and XRP experienced a strong rebound.
This dramatic development occurred in the early hours of December 2nd, when at 4:30 AM local time, Yoon Suk-yeol suddenly announced the lifting of the martial law, which had been in place for less than six hours. This decision came after approximately 190 out of 300 members of parliament voted against the martial law. Yoon Suk-yeol stated, "I will respect the will of the National Assembly and lift the martial law." This decision not only eased the domestic situation but also provided a support point for the global cryptocurrency market.
From the market response, global investors were sensitive to this news, especially in the South Korean market. According to data from CoinMarketCap, Bitcoin's price rebounded by 2.4% after the lifting of the martial law, Ethereum recovered by 3.3%, and XRP surged by 9.2%. Just the day before, the trading volume of cryptocurrencies among South Korean retail investors reached the second highest level of the year, with XRP's trading volume exceeding $6.3 billion.
So, what does this incident really mean? What we are seeing is not just localized market fluctuations, but a sensitive reaction of the global financial market to policy changes. For cryptocurrency investors, any adjustments in politics and policy could have far-reaching impacts on the market. Are you also looking for a way to quickly understand these market changes and make accurate decisions?
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The above content is for informational sharing only and does not constitute any investment advice
