Bitcoin Gets Briefly Caught Up in South Korean Political Strife
- ‘Kimchi’ premium reemerges for Bitcoin on Asian exchanges
- Altcoins across the board also traded lower in Korea
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Cryptocurrencies saw few gains on Tuesday, while price swings surged on Asian exchanges after South Korean President Yoon Suk Yeol declared martial law as the country faces a political deadlock in parliament.
A majority of the largest digital assets were in the red, with market bellwether Bitcoin fluctuating between small gains and losses. Bitcoin has seen a record-setting rally since President-elect Donald Trump won the US election, though the token has struggled to reach the $100,000 milestone many have expected. Altcoins such as XRP, which have also seen large gains in recent weeks, retreated.