The post South Korea’s Martial Law Triggers 30% Drop In Bitcoin, XRP appeared first on Coinpedia Fintech News
Soon after South Korean President Yoon Suk Yeol declared “emergency martial law,” negative sentiment spread over to the crypto markets within minutes. Bitcoin and XRP plunged as low as 30% on Upbit before quickly recovering. Bitcoin fell as low as $66,000 (88,266,000 won) before quickly recovering to trade considerably lower than the asset’s prices in other exchanges. XRP crashed to $1.16 (1,623 won) but has recovered to trade above $2.4. The broader South Korean financial market, like stocks and bonds, also saw a similar scenario following the president’s martial law declaration.