South Korea's stock market has been hit recently due to Trump's potential America-first doctrine. On the contrary, the South Korean cryptocurrency market is in full swing, but may this also indicate that the market is about to reverse? (Preliminary summary: The rare "1% discount" in the Bitcoin Korean market indicates that the BTC reversal is coming?) (Background supplement: Korean Blockchain Week Insights: Presto Labs and Flipster promote a new global trading pattern) Since Trump's visit here After winning the U.S. presidential election strongly at the beginning of the month, the U.S. stock market and cryptocurrency market celebrated. The S&P 500 index once exceeded the 6,000-point mark, continuing to hit a record high; Bitcoin also broke through multiple price levels one after another, on November 14 It hit $93,000 a day. South Korea's stock market has been falling for days. However, due to Trump's potential America First strategy after taking office, investors are worried that Trump has vowed to impose an additional 10% tariff on imported goods and a 60% tariff on goods from China. This risk will significantly damage the Asian economy. The growth of the economy has caused a severe setback to the South Korean economy, which is highly dependent on exports. According to a report from South Korea (Dong-A Ilbo) yesterday (14th), on November 13, the South Korea Composite Stock Price Index KOSPI closed at 2417.08 points, which was the three consecutive days of decline of more than 1% since November 11, refreshing the record of January 17 this year. day’s low for the year. At the same time, in the last three days as of November 14, the net selling volume of the Korean stock market was as high as 1.5 trillion won; in addition, in the foreign exchange market yesterday, the exchange rate of the Korean won against the US dollar also rose to 1,410.6 won. In this regard, the Dong-A Ilbo commented: Domestic demand such as the self-employed economy has stagnated, and the job situation has also deteriorated significantly. As the high exchange rate causes import prices to rise and interest rate cuts to be postponed, there are even signs of a new three-high crisis (high exchange rate, high interest rates, and high prices) hitting again. Upbit’s trading volume exceeds that of the Korean stock market. It is worth noting that while Korean investors are disappointed with the stock market, the popularity of the local cryptocurrency market continues to rise. According to Korean media reports, the Korea Exchange stated on the 13th that the average daily trading volume of South Korea's two major stock markets, KOSPI and KOSDAQ, in January this year was approximately 20 trillion won, but this month it shrank to approximately 15 trillion won. According to CoinMarketCap statistics, on November 13, the trading volume of five local cryptocurrency exchanges in South Korea reached 34.0% within 24 hours.674 trillion won, 1.5 times the South Korean stock market trading. Among them, the trading volume of Upbit alone exceeds the sum of KOSPI and KOSDAQ. It can be seen that investors are shifting their focus from the stock market to cryptocurrencies. The high popularity of South Korea’s crypto market hints that Bitcoin will face a correction? However, it is worth noting that on March 11 this year, the trading volume of South Korean cryptocurrency also exceeded the trading volume of the South Korean stock market. However, on March 14, after Bitcoin hit a record high of $73,700, it began to A months-long pullback. In addition, according to data from Appfigures, in the U.S. iPhone app market, the top five free financial apps are all occupied by cryptocurrency-related apps, which seems to show signs of overheating among retail investors. At present, Bitcoin has also been retreating from its historical high of $93,260 in recent days. Does the contrast between the hot and cold markets of the Korean stock market and the cryptocurrency market really indicate the short-term trend of Bitcoin? It may be worth our reference. Bitcoin trend. Picture source: OKX Related reports Guoke article) Bitcoin Fixed Investment Experiment: 500 Days of Non-stop Results Revealed Taiwan’s Bitcoin Frenzy: The Number of Coin Trust Registrations and Trading Activity both hit new highs, and the APP Finance Ranking reached second place Trump won Gold Kill for 5 days in a row! Falling below $2,600, will the decline in safe-haven demand become a hidden concern for Bitcoin? "Upbit cryptocurrency trading volume far exceeds that of the Korean stock market, are signs of market overheating reappearing?" This article was first published on BlockTempo (Dongqu Dongzhu - the most influential blockchain news media).