Last night, the situation in South Korea suddenly changed drastically, as President Yoon Suk-yeol unexpectedly declared a "state of emergency," which greatly frightened the market and panic spread rapidly.

The prices of cryptocurrencies on exchanges like Upbit plummeted like a roller coaster, with Bitcoin dropping to as low as $63,000 at one point, and Ethereum also couldn't hold up, directly falling below $3,000. Those altcoins fared even worse, experiencing severe declines, with many investors watching helplessly as their money vanished, resulting in devastating losses.

Fortunately, in the early hours of December 4, the South Korean National Assembly voted unanimously to abolish the state of emergency, and Yoon Suk-yeol had no choice but to lift it, causing the political situation to stabilize rapidly as if by magic.

The market also immediately rebounded strongly, with Bitcoin and Ethereum quickly starting to recover, and those altcoins generally rising as well.

Even so, this round of dramatic ups and downs still caused countless investors to suffer greatly; they became the unluckiest group in this turmoil, paying an incredibly painful price.