Martial Law Declared in South Korea! Bitcoin, XRP and Altcoins Experienced a Huge Drop! Here's the Latest Situation!

Sudden Drop in Bitcoin and Altcoins on South Korean Exchanges Amid Martial Law Declaration

Major cryptocurrencies witnessed a sharp decline against the South Korean won following the government's declaration of emergency martial law.

Martial Law's Impact on Crypto Markets

South Korean President Yoon Suk Yeol imposed "emergency martial law," citing opposition parties' alleged efforts to destabilize the government and align with North Korea. This negative sentiment extended into the crypto markets, leading to a sell-off in popular assets like Bitcoin (BTC), XRP, and Dogecoin (DOGE).

Upbit Exchange Data

On the local exchange Upbit, these cryptocurrencies experienced drops of up to 30%. However, they subsequently rebounded.

Bitcoin's Performance

In USDT terms, Bitcoin dropped from $96,000 to $71,000 in US dollars.

Exchange Operational Issues

Major exchanges Upbit and Bithumb reported website streaming and performance delays due to increased user activity following the martial law declaration.

Disclaimer

This information does not constitute investment advice.