Cryptocurrency Trading Surpasses Stock Trading in South Korea Amid Political Turmoil and Bitcoin Price Discrepancies

Cryptocurrency trading has now outpaced stock trading in South Korea.

Recently, President Yoon Suk Yeol declared martial law amid political tensions, which caught the world’s attention. This news shook the crypto markets, at least for a moment.

On Korean exchanges, Bitcoin’s price dropped dramatically. It fell to as low as $71,814.99 against the US dollar-pegged stablecoin Tether. Meanwhile, a Bloomberg composite showed Bitcoin trading around $93,600 on global exchanges.

This brief price dislocation is more significant than it seems. The so-called “Trump trade” has been causing chaos in Asian currencies and stock markets. As a result, many South Korean investors are turning to cryptocurrencies for safety.

In these uncertain times, it’s clear that the crypto market is becoming a popular refuge for those looking for alternatives.