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22 April 2021

Kimchi premium collapses: Short-term top signal or a reset for Bitcoin?

Kimchi premium collapses: Short-term top signal or a reset for Bitcoin?


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The so-called Kimchi premium, which measures the premium of the Bitcoin (BTC) price in South Korea's cryptocurrency exchange market, plummeted overnight.

Overnight, as CryptoQuant CEO Ki Young Ju noted, the price of Bitcoin fell particularly hard on South Korean exchanges.

As the price of Bitcoin dropped, the Kimchi premium fell in tandem.

But, since BTC price fell significantly harder on South Korean exchanges, the premium plunged quickly within a matter of hours.

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cointelegraph.com
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