South Korea’s Bitcoin “Kimchi Premium” recently fell below 1% and then rebounded, which may indicate growing demand

According to Mars Finance, the Korean Bitcoin "Kimchi Premium" fell below 1% after approaching 10% in mid-April, and the premium is now rebounding. CryptoQuant data shows that after hitting a low of 0.62% on June 4 (when the global price was almost the same), the premium climbed to 3.42% as of June 6. Analysis points out that, generally speaking, this indicates that demand in South Korea is growing, which may push up the price of Bitcoin in the short term.

In addition, CoinMarketCap's archived data on June 9 showed that the global trading price of Bitcoin was $69,288, while on Upbit, the price of Bitcoin was $71,130, 2.658% higher. Similar premiums have also appeared on Bithumb, Coinone and Korbit. Ethereum's premium is also 2.69%, with a global price of $3,679 and a price of $3,778 on Upbit and other platforms.