"Bitcoin, Increase in New Whales... Cautious Korean Investors"

Uk Jin

Summary

Recently, there has been an increase in new whales investing in Bitcoin.
The Korean market still shows low interest in Bitcoin, with the 'Kimchi Premium' remaining negative.
Joo-Hyun Ryu stated that if Korean investors want to participate in the market rally, they need to act quickly.

Recently, there has been an increase in new whales investing in Bitcoin (BTC). However, the Korean market still appears to have relatively little interest in Bitcoin.

According to a report by the on-chain data analysis company CryptoQuant on the 16th, the increase in short-term investors holding assets for less than three months has been primarily driven by institutional investors or new whales, rather than small investors.

Joo-Hyun Ryu, a contributor at CryptoQuant, explained, "This can be confirmed through the monthly whale holdings change rate statistics."

However, in Korea, Bitcoin still seems to receive less attention. Ryu stated, "Despite the increase in whale holdings, the Korean market remains stagnant. The 'Kimchi Premium' remains negative, indicating that Korean investors are passive in market participation."

Regarding the reason for this phenomenon, Ryu added, "The memory of the correction after reaching the peak last March makes Korean investors hesitant and prevents them from participating in the bull market. However, if Korean investors want to join the current market rally, they need to act quickly. The market will not wait."

BTC