Bitcoin’s Surge Leaves South Korea Behind: Kimchi Premium Fades
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- South Korea’s kimchi premium drops, indicating sluggish retail demand for Bitcoin.
- U.S. institutional demand for Bitcoin surges, with custodial Wallets doubling retail.
- Bitcoin hits $71K amid strong global market, approaching supply cap with high volume.
Despite Bitcoin’s surge past $70,000, interest among South Korean retail investors remained tepid. The kimchi premium, which measures the difference between Bitcoin’s price in South Korea and global exchanges, is low. While Bitcoin rallies globally, the Korea Premium Index has turned negative.
The kimchi premium has changed in recent months, reaching a high of around 10% in March due to strong demand from Korean investors. Now, it is below 2%, showing a drop in retail interest.
Korea Premium Index Signals Market Shift
The Korea Premium Index, which can be positive or negative, indicates a shift in the South Korean market. While Bitcoin is trading around $71,300 globally, the Index has fallen to almost 1% lows.
This negative premium, indicated by a red circle on recent charts, suggests that Bitcoin is trading at a discount on South Korean exchanges. Analysts attribute this to lowe…
The post Bitcoin’s Surge Leaves South Korea Behind: Kimchi Premium Fades appeared first on Coin Edition.
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