According to BlockBeats, a recent report by Kaiko revealed that Bitcoin traded at a discount of approximately 1% in the South Korean market last week, marking the second occurrence of such a discount since September. Historically, Bitcoin has traded at a premium in South Korea due to the country's unique regulatory framework, which restricts cross-border capital transfers by foreign users. This premium has reached as high as 50% in the past. In March of this year, as Bitcoin reached an all-time high, the 'Korean market premium' surged to 10% before falling to 1-2% during the summer.
It is noteworthy that previous instances of a negative 'Korean market premium' have often signaled a broader rebound in the cryptocurrency market. However, this time, the market remains uncertain, particularly with the upcoming U.S. presidential election.
