{"id":3690,"date":"2024-12-04T05:01:32","date_gmt":"2024-12-04T05:01:32","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3690"},"modified":"2024-12-04T05:01:32","modified_gmt":"2024-12-04T05:01:32","slug":"bitcoin-dumped-and-recovered-in-south-korea-amid-political-turmoil-an-arbitrage-opportunity-that-wasnt","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3690","title":{"rendered":"Bitcoin Dumped And Recovered In South Korea Amid Political Turmoil \u2014 An Arbitrage Opportunity That Wasn&#8217;t?"},"content":{"rendered":"<div>\n<p>Cryptocurrencies traded at big discounts in the South Korean market Tuesday but recovered amid intense political drama in the East Asian nation.<\/p>\n<p><strong>What happened<\/strong>: Major coins like <strong>Bitcoin <\/strong>(CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\">BTC<\/a>) and <strong>Ethereum <\/strong>(CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/eth\/usd\">ETH<\/a>) sharply fell in value on <strong>Upbit<\/strong>, South Korea&#8217;s largest cryptocurrency exchange.\u00a0<\/p>\n<p>Bitcoin <a href=\"https:\/\/upbit.com\/exchange?code=CRIX.UPBIT.USDT-BTC\">plunged <\/a>as low as $71,800 after President <strong>Yoon Suk Yeol <\/strong><a href=\"https:\/\/www.benzinga.com\/news\/global\/24\/12\/42306717\/south-korean-markets-plunge-amid-political-turmoil-as-president-yoons-martial-law-u-turn-sparks-uncertainty-samsung-sk-hynix-and-hyundai-stocks-tumble\">imposed martial law<\/a> in the country, even though it <a href=\"https:\/\/in.tradingview.com\/chart\/XlzxagWe\/\">traded <\/a>around 95,500 on <strong>Coinbase<\/strong>, the largest digital assets exchange in the U.S.<\/p>\n<p>Similarly, Ethereum dropped to $2,700 on Upbit while trading over $3,600 on Coinbase.<\/p>\n<p>The Korea Premium Index, which measures the percentage difference between the market prices of Korean exchanges and other exchanges, plummeted to -14.67, according to on-chain analytics firm CryptoQuant, indicating that retail investors were selling at a lower price than the average market price.<\/p>\n<p><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><br ...><\/figure>\n<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/12\/42307586\/bitcoin-dumped-and-recovered-in-south-korea-amid-political-turmoil-an-arbitrage-opportunit\" alt=\"Bitcoin\" dumped and recovered in south korea amid political turmoil an arbitrage opportunity that wasn>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrencies traded at big discounts in the South Korean market Tuesday but recovered amid intense political drama in the East Asian nation. What happened: Major coins like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) sharply fell in value on Upbit, South Korea&#8217;s largest cryptocurrency exchange.\u00a0 Bitcoin plunged as low as $71,800 after President Yoon Suk [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3690","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3690"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3690\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}