Korean Constitutional Court "President Yoon, Unanimous Impeachment Decision"
BTC, 1.25%↓…"Market Digesting Downward Trend Started 3 Days Ago"
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The Constitutional Court of South Korea unanimously decided to remove President Yoon from office on the 4th. According to the court's decision, President Yoon immediately lost his presidential position.
The impeachment of President Yoon did not have as significant an impact on the cryptocurrency market as many investors feared. Bitcoin declined by approximately 1.25% compared to 9 PM.
Previously, in December last year, the cryptocurrency market sharply declined, including Bitcoin dropping by about 30% following President Yoon's martial law announcement. Considering that South Korean cryptocurrency exchange membership is 16 million, there were interpretations that the court's judgment would significantly impact the cryptocurrency market.
However, the cryptocurrency market is currently digesting the market downturn that began on the night of the 3rd. Earlier on the afternoon of the 3rd, the cryptocurrency market declined in response to the US stock market crash due to Trump's tariff announcement.
Bitcoin was trading at 121.78 million won on Upbit at 12:30 PM on the 4th.
Reporter Kwon Seung-won ksw@blockstreet.co.kr
