News Formal

Crypto market sees slight losses as South Korean market plunges following emergency martial law declaration

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 21 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 72%

Bitcoin News

Cryptocurrencies

Bitcoin (BTC) and the cryptocurrency market experienced minor declines on Tuesday, primarily due to political issues in South Korea, which introduced fear, uncertainty and doubt (FUD) among investors.

The crypto market saw a slight dip after the South Korean President announced martial law, causing massive FUD among crypto investors. The Korea Premium Index dropped to -14.67, with Bitcoin briefly trading near $65K in Korean exchanges. After the news, investors transferred over $163 million in USDT to the Korean exchange Upbit, suggesting they may be planning to buy the dip.

Bitcoin dipped briefly by 30% on the exchange from $95K to around $61K, with altcoins like Ethereum and Solana dropping to $2K and $146, respectively. The massive FUD led to temporary delays and restrictions on certain actions in the exchanges. For instance, Bithumb users began experiencing delays in accessing the site and mobile app, while Upbit users were notified of a service delay on the mobile app.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

South Korean Police Arrest 215 in Suspected $232M Crypto Investment Scam Investigation: YonhapCallan Quinn is a Hong Kong-based news reporter at CoinDesk. She holds more than $1,000 of ETH.
Source: CoinDesk - 🏆 291. / 63 Read more »