CryptoQuant Analyst: Bitcoin "Kimchi Premium" Reaches Local High, Indicating Strong Demand from Korean Investors

ChainCatcher news, CryptoQuant analyst Joo Hyun Ryu stated, "The 'kimchi premium' has reached a local high of 5.12, indicating that the demand for Bitcoin among Korean investors is very strong."

Ryu explained, "However, this sharp market correction seems to be attracting new investors, as data shows that the proportion of short-term holders (STH, holding period of less than three months) has increased by 3 percentage points in just one week."