Bitcoin Crashes to $63,000 On Upbit Exchange
As the government declared emergency martial law late on Tuesday, the main crypto token on South Korean exchanges quickly plunged 30% against the won. Bitcoin and XRP, two of the most traded coins on local exchanges, fell as low as 30% on Upbit before recovering quickly. In U.S. dollar terms, BTC fell from $96,000 to $63,000. This is an interesting reminder of how isolated fiat liquidity might react, especially under extreme conditions such as a presidential declaration of martial law.
