[Analysis] "Kimchi Premium Decline... South Korean Investment Sentiment Weakens"

An analysis has emerged indicating that the influence of South Korean investors on the Bitcoin (BTC) market is diminishing.

AvocadoOnChain, a contributor to CryptoQuant, stated on the 16th via X that "despite the rise in Bitcoin, the Kimchi Premium continues to decline," suggesting that overseas exchanges are currently leading the price increase.

AvocadoOnChain emphasized, "This trend shows that the overall cryptocurrency investment sentiment among South Korean investors is currently weakened." He analyzed, "Even the remaining investors in the market are placing more weight on altcoins than on Bitcoin, and in the current environment where Bitcoin purchases are being made at the corporate and national levels, the likelihood of the high premiums seen in the past reappearing seems low."

He also mentioned the shift in market leadership. AvocadoOnChain stated, "Even if the Kimchi Premium rebounds, the level of around 10% seen in previous seasons is low by past standards, but should be considered high in the future," indicating that "this change signifies that market leadership is shifting from Asia to global institutional investors."