Bitcoin's (CRYPTO:BTC) premium in South Korea has rebounded, signaling robust local demand despite global price stability above $69,000.
The premium, which dropped below 1% after reaching nearly 10% in April, climbed to 3.42% by June 6.
This trend reflects the unique market dynamics and regulatory landscape in South Korea, where high retail demand, limited institutional involvement, and regulatory hurdles contribute to supply-demand imbalances.
With the South Korean won surpassing the U.S. dollar in BTC trading volume in Q1 2024, the observed premium offers crucial insights for traders, indicating strong buying pressure and potential short-term bullish signals in the South Korean market.