South Korea, sudden martial law. Attention, the cryptocurrency market is collectively diving!

On the evening of December 3 local time, South Korean President Yoon Suk-yeol suddenly gave a televised speech, announcing the implementation of 'emergency martial law.' Yoon listed several reasons.

As a result of this news, the cryptocurrency market in South Korea has collectively plunged, with Bitcoin on South Korean exchanges dipping by as much as 30%, falling to $66,500, and Ripple plummeting by 60%, from $2.90 to $1.16.

Among these, the South Korean won has depreciated significantly, with the dollar to won exchange rate increasing by 1.4% during the day; Korea's ETF (EWY) fell over 1.8% in pre-market trading in the US, and South Korean steel manufacturer POSCO's ADR dropped 4.9% before the US market opened; Samsung Electronics' stock in London briefly fell over 5%.

In a dynamically changing market environment, maintaining a clear mind and flexible response strategies is a quality that every investor must possess.

The future development of the cryptocurrency market will not stop due to a single event, but we need to cautiously assess the potential risks and opportunities.

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