Bitcoin Tops $104K as Global Market Momentum Outpaces Korean Demand
Bitcoin is trading above $103,000, reflecting a 0.4% decrease in the last 24 hours and over 20% decline in the past month. A CryptoQuant analyst noted a shift in market dynamics, with the "Korea Premium" declining, indicating that institutional flows are driving the rally rather than retail activity in Korea. Historically, South Korean exchanges traded Bitcoin at a premium due to local demand surges, but this trend has reversed. The rise of spot Bitcoin ETFs in the US and increased interest from corporations and sovereign wealth funds have shifted trading activity towards institutional strategies. The subdued Korea Premium suggests that Asian retail is no longer leading Bitcoin markets. This evolution may lead to more stable growth for Bitcoin, making its price more responsive to global economic events and reducing the predictive power of retail signals like the Korea Premium.
