Bitcoin's Comeback Inverts South Korea Premium to 0.76% Below Global Average

Bitcoin has experienced an eventful week, buoyed by renewed appetite and reclaiming the $100,000 milestone for the first time since February.

Bitcoin experienced a week of eventful price action, drifting between $103,133 and $104,841 over the past 24 hours.

After reclaiming the $100,000 milestone for the first time since February amid renewed appetite, the premium on South Korean exchanges dipped into discount territory for several days this month.

At the start of the week, Bithumb and Upbit prices were nearly in line with international exchanges, presenting a 0.76% discount on Monday, May 11.

Data from cryptoquant.com reveals that the inversion began on May 2, falling 0.43% below the global average, and further deepening on May 9 and 10 to reach a 0.76% shortfall on the latter date.

The global average price serves as a weighted measure across several leading exchanges, while Bithumb and Upbit prices factor into the calculation.

Between May 2 and 9, premiums had risen to as high as 3% on May 6, while such discounts in South Korea are a less frequent occurrence.

The previous inversion occurred in April when prices fell to a 1.19% weighted global average, presenting an even deeper discount.

Prior to that episode, the last won discount was recorded in December of last year.

Meanwhile, since April 20, Cryptoquant’s Coinbase Premium Index has predominantly remained in premium territory.

There have been two brief, modest reversals—on May 4 and again on May 8.

Essentially, the Coinbase Premium Index from Cryptoquant computes the percentage gap between Coinbase Pro and Binance, with elevated premiums signifying vigorous buying pressure from U.S. investors.

Conversely, a won discount might indicate muted demand, excess supply, or heightened local uncertainty in the South Korean market.

This content is viewed and provided entirely from a neutral point of view and is intended for informational purposes only and should not be considered investment advice. All investing and trading carries risk. Web3, DeFi, cryptocurrencies, NFTs, and STLCs are risky investments and could lead to loss of capital.