President Yoon Seok-yul’s recent attempt to impose martial law and seize more power has caused panic in the financial markets. Investors have begun to dump risky assets en masse, including cryptocurrencies.
Bitcoin, the main indicator of sentiment in the crypto market, has fallen sharply in price. Panic selling has led to large-scale liquidations of traders’ positions and a collapse in the rate of the most popular cryptocurrency.
South Korean cryptocurrency exchanges have been forced to suspend trading. This decision was made in order to stabilize the situation and prevent a further collapse of the market. However, the temporary closure of the exchanges has disrupted global trading mechanisms and increased volatility in the global crypto market.
