Report: Bitcoin recently traded at a 1% discount in South Korea, the second time since September

Kaiko said in a recent report that Bitcoin briefly traded at a discount of about 1% in the South Korean market last week, the second discount since September. Historically, Bitcoin has traded at a premium of up to 50% in the South Korean market due to South Korea's unique regulatory framework that restricts cross-border capital transfers by foreign users. In March, as BTC hit an all-time high, the "Kimchi premium" soared to 10% before falling back to 1-2% in the summer. It is worth noting that previous instances of negative Kimchi premiums often foreshadowed a rebound in the broader cryptocurrency market. However, this time around, market uncertainty remains high, especially during the upcoming US election.