According to recent reports from COINOTAG News on December 26th, prominent CryptoQuant analyst Joo Hyun Ryu highlighted a significant surge in the Kimchi Premium, which has reached a noteworthy local high of 5.12. This rise indicates a robust demand for Bitcoin among South Korean investors. Ryu pointed out that the current market correction appears to be provoking interest from new participants. Notably, data indicates an uptick in the proportion of short-term holders (STH)—defined as those holding for less than three months—which has escalated by 3 percentage points within a week. This shift in market behavior may suggest an evolving landscape, driven by increasing investor engagement in cryptocurrency markets.
Source: https://en.coinotag.com/breakingnews/kimchi-premium-soars-for-bitcoin-amid-rising-short-term-investors-in-south-korea/