South Korea's Political Turmoil Causes Flash Crash in Crypto Market

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CRYPTOCURRENCY Noticias

POLITICAL TURMOIL,BITCOIN,SOUTH KOREA

South Korea's political unrest led to a sharp decline in the Bitcoin Korea Premium Index, causing flash crashes and increased volatility in Bitcoin and XRP prices. As President Yoon Suk Yeol accused the opposition of threatening democracy, the crypto market faced significant turbulence. Analysts noted the 'Kimchi Premium' as a key indicator, reflecting a shift from bullish to bearish sentiment.

South Korea’s political turmoil triggered a sharp decline in Bitcoin’s Korea Premium Index, causing flash crashes in Bitcoin and XRP prices.and its rapid reversal have rattled the crypto market, creating a sharp spike in volatility.

The Relative Strength Index indicates overbought conditions, suggesting that XRP’s recovery may face resistance in the short term.Additionally, the significant trading volume during the flash crash underscores heightened panic selling and subsequent speculative accumulation. Analysis showed that the volume spiked in the last trading session on 3rd December as the price fluctuated.

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