Korean Investors Turn to BTC and USDT as Won Slumps to 15-Year Low, Says CryptoQuant CEO

BTC

BTC/USDT

$64,065.45

+0.01%

$64,065.45

+0.01%

(24s)

24h Volume

$18,121,189,229.39

24h H/L

$64,744.81 / $63,267.34

Change: $1,477.47 (2.34%)

Long/Short

61.9%

Long: 61.9%Short: 38.1%

Funding Rate

+0.0069%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$63,981.00

▼ -0.01%

Volume (24h): -

Resistance Levels

Resistance 3$66,956.15

Resistance 2$65,472.57

Resistance 1$64,201.72

Price$63,981.00

Support 1$63,206.83

Support 2$61,468.10

Support 3$57,800.19

Pivot (PP):$63,998.81

Trend:Sideways

RSI (14):48.7

COINOTAG reported on December 27 that the CEO of CryptoQuant, Ki Young Ju, highlighted a significant shift in currency dynamics. The Korean Won to US Dollar exchange rate has plummeted to a 15-year low, prompting South Korean investors to pivot towards cryptocurrencies. In a strategic response to this devaluation, many are converting their Korean Won into BTC (Bitcoin) and USDT (Tether) via Upbit, a leading South Korean exchange. Notably, this transition is occurring at a premium of 3-5%. Such market behaviors underscore the intertwined relationship between fiat stability and crypto investments, as investors seek to safeguard their assets amid fluctuating economic conditions.