Bitcoin Premium Jumps in South Korea: Understanding the Market Dynamics at Play
As of 4:45 p.m. EST, Bitcoin is priced at $69,058, with a recent uptick driven by bullish activity. In South Korea. Bitcoin trades at a premium, with Upbit listing it at $69,895, which is 1.21% higher than the global average.
Following a brief dip between October 12 and 20, South Korea’s Bitcoin premium rose to 2.21% by October 24 and recorded 1.93% on Halloween. This trend reflects strong local demand and unique regulatory factors in South Korea, where the won is the second most-traded fiat currency for Bitcoin.
The current premium indicates continued bullish sentiment in the South Korean market. Emphasizing how regional dynamics can influence global Bitcoin valuation trends.
Clever Robot News Desk 5th November 2024
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