Bitcoin recovers fully after plunge following South Korea's declaration of martial law

BTC, recovering from the drop due to the declaration of martial law in South Korea, regained the previous day's price Some altcoins recorded prices above 3 days ago, overcoming the shock of the night of the 3rd US stocks, following the declaration of martial law in South Korea, saw a drop in the stock prices of Korean companies Experts say "the events of the 3rd actually proved the demand for investment in BTC" BTC, on the afternoon of the 4th based on Upbit, was priced at 13,541 million won. BTC dominance was 55.18%. According to on-chain analysis platform Sygbit, the long (bullish) and short (bearish) betting ratio in the BTC futures market was 50.87% and 49.13% respectively. Despite BTC plunging 30% late at night on the 3rd, the fact that it fully recovered the price was widely seen as proving the demand for BTC. The sharp drop in BTC was analyzed to be due to the inability of Korean cryptocurrency exchanges to fully process the sudden surge in buy orders, in addition to the rapid sell-off. The cryptocurrency that recorded the largest increase from the previous trading day on the afternoon of the 4th based on Upbit was IOTA, rising about 17%. IOTA had also risen 31% on the 3rd. IOTA is a project that allows various activities through various electronic and communication devices in living spaces such as offices and homes, based on the Internet of Things platform. IOTA uses its own algorithm called 'Tangle'. Tangle has the advantage of no transaction fees and the ability to process many transactions quickly, making it suitable for the Internet of Things. The Fear and Greed Index provided by Alternative is at 78 points, entering the 'Greed' stage. The Greed stage is a period of high price volatility and trading volume, with a high likelihood of short-term peaks forming, requiring caution in selling. The Relative Strength Index (RSI) provided by Sygbit is 52.7, indicating a 'neutral' state. RSI measures the relative strength of the upward and downward pressures on a specific asset price, indicating the overbought and oversold levels of the asset.