CryptoQuant Analyst: BTC "Kimchi Premium" reaches local high, indicating strong demand from South Korean investors

On December 26, CryptoQuant analyst Joo Hyun Ryu stated that during the recent market downturn, speculative short-term holders increased their exposure to Bitcoin, especially driven by demand in South Korea. The "Kimchi Premium", which measures the price gap between Korean exchanges and other exchanges, reached a local high of 5.12, indicating strong local demand. The rise in interest from Korean investors suggests an optimistic attitude towards the prospects of Bitcoin in the region, despite mixed signals from global markets. Previous reports indicated that Korean cryptocurrency investors surpassed 15 million in November. According to data submitted by the Bank of Korea, as of the end of November, there were 15.59 million Koreans with accounts on the country's five major cryptocurrency exchanges.