The so-called Kimchi premium, which measures the premium of the Bitcoin (BTC) price in South Korea’s cryptocurrency exchange market, plummeted overnight. The premium declined from 22% to 15% within a matter of hours on Wednesday, and it is continuing to drop across major South Korean exchanges. A big pullback in South Korea’s Bitcoin market Overnight, as CryptoQuant CEO Ki Young Ju noted, the price of Bitcoin fell particularly hard on South Korean exchanges. As the price of Bitcoin dropped, the Kimchi premium fell in tandem. But, since BTC’s price fell significantly harder on South Korean exchanges, the premium ... (full story)