Bitcoin (BTC) is trading slightly lower in South Korea compared to the global cryptocurrency markets due to a reverse ‘kimchi premium,’ not seen since October 2023. Reverse ‘Kimchi Premium’ Makes Bitcoin Cheaper In South Korea According to a report by The Korea Times, there is a price differential of more than $500 between Bitcoin’s price in South Korea and global markets. Analysts attribute this to a negative ‘kimchi premium.’ Related Reading: Analyst Warns Of Bitcoin Market Shift: Are We Near A Major Sell-Off? For the uninitiated, kimchi premium refers to the price difference where BTC trades at a higher price on South Korean exchanges than on global markets. This premium is driven by local demand, regulatory factors, and capital controls in South Korea, leading to occasional price discrepancies. Currently, the kimchi premium stands at -0.74%, leading to a lower market price for BTC on South Korean exchanges than the rest of the world. Notably, the kimchi premium has been negative since October 15. A positive premium indicates strong demand for the underlying digital asset. In contrast, a negative premi ..
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