The Bitcoin Korea Premium Index is a way of measuring the difference in price between Bitcoin listed on South Korean crypto exchanges and global crypto exchanges. Whenever the value is higher than 0, it implies that the users of the South Korean exchanges are buying more than foreign investors. We observed that during the current rally, the metric had a positive value, suggesting that the Korean investors were purchasing Bitcoin ahead of the global investors.

However, recently the value of the indicator has taken a negative turn, meaning the users of South Korean exchanges are now selling more of the asset than the global holders. According to the analyst, past instances of this have led to drawdown in the price of the cryptocurrency. At the moment, the indicator has only taken a small negative value, so it does not necessarily imply that the trend that was seen in the past will be repeated.

At the time of writing, Bitcoin is trading around $27,900, up 1% in the last week. The cryptocurrency appears to be following its sideways trend over the past few days. As long as the Bitcoin Korea Premium Index doesn't take a larger negative value, it is likely the current trend will continue.



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