After a brief pullback to $60,000 on Wednesday, the world’s largest cryptocurrency Bitcoin (BTC) has given a healthy recovery. The Bitcoin (BTC) price is up 4% in the last 24 hours shooting past $66,000 once again.
Bitcoin (BTC) Kimchi Premium Jumps 10%
In a recent statement, CryptoQuant CEO Ki Young Ju revealed that Bitcoin’s price premium in South Korea has reached an impressive 10%, marking its highest level in two years. Ju highlighted the resurgence of Korean retail investors in the cryptocurrency market, indicating a renewed interest and confidence among local traders.
Courtesy: CryptoQuant
The Kimchi premium refers to the variance in cryptocurrency asset prices between South Korean exchanges and those abroad. This premium has been on an upward trajectory alongside the BTC price since the beginning of February.
According to on-chain data from CryptoQuant, the Korea Premium index surged from 5.19 on February 28 to 6.84 on March 5. This increase occurred simultaneously with Bit
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