COINOTAG News reports that, following market fluctuations linked to recent U.S. tariff decisions, **Bitcoin** faced a temporary **negative premium** of 1.19% on a significant South Korean exchange. However, it has subsequently normalized, reaching a peak premium of 2.97% on April 15th. As of the latest data, **Upbit** recorded a Bitcoin price that was 1.65% above the global average, while **Bithumb** showed an even higher premium of 1.73%. This marked premium in the South Korean market reflects a dearth of attractive local investment alternatives, driving investors towards **Bitcoin** and other **cryptocurrencies**. Such a premium not only highlights the robust demand from Korean traders but also signifies their enduring confidence in the crypto landscape. Additionally, the notable premium often suggests restricted supply within local exchanges—a potential indicator of a **broader price recovery** in the **Bitcoin** arena, with savvy traders viewing this trend as a precursor to a bullish reversal.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024