Bitcoin's ‘Kimchi Premium’ Jumps to 10%, Worrying Sign for BTC in Short-Term

Q: How long will it take to read this news story?

The story "Bitcoin&#039;s ‘Kimchi Premium’ Jumps to 10%, Worrying Sign for BTC in Short-Term" has 274 words across 20 sentences, which will take approximately 2 - 3 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Bitcoin&#039;s ‘Kimchi Premium’ Jumps to 10%, Worrying Sign for BTC in Short-Term" was covered 11 hours ago by CoinDesk, a news publisher based in United States.

Q: How trustworthy is 'CoinDesk' news outlet?

CoinDesk is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news. The outlet is headquartered in United States and publishes an average of 9 news stories per day. It's most recent story was published 9 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #25779607</li><li>URL: https://beamstart.com/news/bitcoins-kimchi-premium-jumps-to-17385712705953</li></ul>

CoinDesk 11h ago

Bitcoin's ‘Kimchi Premium’ Jumps to 10%, Worrying Sign for BTC in Short-Term - CoinDesk

Quick Summary:

Trading volumes on Korean exchanges Bithumb and Upbit have dropped significantly in the past week, indicating a drop in retail trading activity.

Meanwhile, balances of dollar-margined stablecoin tether have been on the decline on both exchanges with instances of withdrawal delays.“It seems that most retail investors are either already fully invested in spot or have withdrawn their funds to engage in DEX activities,” Seoul-based DNTV Research analyst Bradley Park told CoinDesk in a Telegram message.“In this situation, the kimchi premium doesn’t represent retail investors’ overbuying; rather, it appears to have risen as a passive response to the uncertainty of a strong dollar environment,” Park added.“The kimchi premium can surge excessively when trading volume increases, but it can also help defend prices when the asset prices on overseas exchanges drop significantly," Park said, adding that was likely “not a positive sign” in the short-term for bitcoin.

The arbitrage involves buying bitcoin on a global exchange and selling it on a Korean exchange for a riskless profit in Korean won.