CandleFocus Signs of Bottom Fishing on Upbit After South Korea's Martial Law-Led BTC Flash Crash
2024-12-03
Author: Content Editor
Summary:
Following the declaration of martial law in South Korea, whales swiftly took advantage of the flash crash in bitcoin and other token prices on the Upbit exchange. Within an hour of the declaration, large traders transferred over $163 million in Tether's USDT stablecoin to Upbit, indicating a possible wave of bargain-hunting among traders. BTC fell as low as $63,000 on Upbit but has since recovered to trade near $94,000. The emergency declaration may also prompt more investors to turn to censorship-resistant assets like BTC.
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