Bitcoin’s Kimchi Premium Dips by 1.54% amid Market Fluctuation
This current drop in the Bitcoin Kimchi Premium comes as trading volumes on South Korea’s top five crypto exchanges plummet.
Bitcoin is a peer-to-peer payment system and digital currency introduced as open source software in 2009.
This current drop in the Bitcoin Kimchi Premium comes as trading volumes on South Korea’s top five crypto exchanges plummet.
Many crypto traders believe that the iPhone maker’s brief acknowledgment of the software has propelled the recent surge in RNDR.
In a similar manner to the Hong Kong spot Bitcoin ETFs, their US counterparts also experienced a net outflow of $11.29 million on Thursday.
Metaplanet’s shift to Bitcoin is a significant step for the crypto community; it signals a growing trend of institutional adoption of cryptocurrencies.
The open interest (OI) for Bitcoin call options is twice the open interest for the put options, indicating an overall bullish sentiment.
Dorsey’s bullish outlook for the long-term price action of Bitcoin borders on the collaborative nature of its ecosystem.
GBTC’s high management fees at 1.5% continue to hurt Grayscale as revenue of the firm remained flat in Q1 amid high redemptions from Bitcoin ETF.
This ongoing Bitcoin volatility has forced Bitwise, an asset management firm, to advise caution, suggesting the halving event might have been a “sell the news” scenario.
The JPMorgan analysts believe the US SEC will establish a middle ground between security and commodity for Ethereum, thus leading to imminent approval of spot ETFs.
The difference between Bitcoin and traditional commodities is that it provides holders with both the benefits digital currencies offer and the advantages of conventional assets.