🇰🇷 $BTC Crypto traders on South Korea-based exchanges seem to have shifted from Bitcoin to alternative cryptocurrencies (altcoins) amid bullish analysts' forecasts in the wake of the recent U.S. interest-rate cut.

That's the message from analytics firm CryptoQuant's Bitcoin Korea premium index, which measures the price gap between Korean and offshore exchanges.

The index turned negative Wednesday, sliding to -0.55, reflecting the deepest discount since October 2023. In other words, Bitcoin has fallen out of favor in Korea.