Recovery in Drop After Emergency Martial Law Lifted... Bitcoin Decline Reduced to Less Than 1%

Temporary Rise on 1 PM National Assembly Approval News
Volatility Expands Followed by Decline
Altcoins Also Narrow Losses and Stabilize

As the National Assembly passed a resolution demanding the lifting of the emergency martial law, Bitcoin prices recovered from intraday losses.

As of 1:17 a.m. on the 4th, Bitcoin was trading at 132,659,000 KRW, down 0.66% from the previous session. Bitcoin prices briefly reversed to a 0.35% gain around 1:04 a.m., but then suddenly declined again.

At the same time, on the global virtual asset market tracking site CoinMarketCap, Bitcoin was recorded at $95,736.33, down 1.24% from the previous session.

Reflecting the characteristics of the domestic virtual asset exchange market, domestic Bitcoin prices appear to respond more sensitively to political events.

At the same time, altcoins (virtual assets other than Bitcoin) are also stabilizing. Ethereum, the leading altcoin, is trading at 5,001,000 KRW, down 1.65% from the previous session, while Solana (-1.17%) and Avalanche (-2.57%) are also declining. Aave (3.08%) and MultiverseX (4.99%) remain in positive territory.

The National Assembly held a plenary session around 1 a.m. and passed the resolution demanding the lifting of martial law. The resolution was passed with 190 votes in favor out of 190 members present. The Speaker's office announced, "With the passage of the resolution demanding the lifting of martial law, the proclamation of martial law has become null and void."

Earlier, President Yoon Suk-yeol announced last night, "I declare martial law to eradicate pro-North Korean forces and protect the free constitutional order." Article 77, Paragraph 5 of the Constitution states, "When the National Assembly demands the lifting of martial law by a majority of the total members, the President shall lift it."

Meanwhile, domestic coin exchanges such as Upbit and Bithumb experienced temporary access errors due to heavy traffic the previous day.