Global Stock News

Impact on Bitcoin & Crypto

Impact on Bitcoin & Crypto

The South Korean parliament experienced significant turmoil yesterday when President Yoon Suk-Yeol declared a state of emergency under martial law. Although the emergency was lifted within six hours, the aftermath had already begun to ripple through the markets. Bitcoin saw a sharp decline, plummeting 30% on Upbit shortly after the announcement. Let’s understand how this political volatility has affected the crypto landscape.

Bitcoin’s Volatility

Hours after President Yoon’s declaration, Bitcoin’s price plunged by more than 30%, dropping to $62,000 on Upbit’s KRW trading pairs, according to data from TradingView. This sharp decline highlighted the sensitivity of South Korea’s crypto market to political developments….

Source link

Share this article

Scroll to Top