Bitcoin's 'Kimchi Premium' Reaches Two-Year High in South Korea

The significant price difference between Bitcoin in South Korea and global markets, known as the 'Kimchi Premium,' has hit a 10% increase, marking its highest point in two years.

• The 'Kimchi Premium' phenomenon, where Bitcoin prices are higher in South Korea compared to global exchanges, has reached a 10% increase.
• This price difference is attributed to South Korea's strict capital controls, making it difficult to arbitrage the gap.
• Bitcoin's price briefly surpassed its November 2021 all-time high on Coinbase, reaching $69,324 before experiencing a drop.
• The resurgence of the 'Kimchi Premium' is seen as an indicator of increased retail investor activity in South Korea.
• Arbitrage opportunities, popularized by Sam Bankman-Fried, are operationally challenging due to the country's capital controls.

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