Key facts
- Bitcoin has traded at a discount in South Korea for nearly a month.
- BTC priced against the South Korean won reached a low of $59,100.
- The 'Kimchi premium' has vanished.
- Bitcoin is trading below global market prices in South Korea.
Bitcoin has recently slipped to a low of $59,100 when priced against the South Korean won. Market data indicates that BTC has been trading at a discount in South Korea for approximately a month. This phenomenon signifies the disappearance of the 'Kimchi premium,' a situation where bitcoin historically traded at a higher price in South Korea compared to global markets. Currently, bitcoin is trading below global market prices within South Korea.