The Kimchi Premium, which refers to cryptocurrency prices being higher in Korea compared to overseas, has narrowed to around 0.02%.
As of 8:06 AM on June 9th, according to DataMaxiPlus, the Kimchi Premium (Upbit-Binance) recorded 0.02%.
This is a slight increase from the previous day's 0.02%. Most major altcoins such as Ethereum, SOL, and Doge recorded negative premium values. Overall, the price gap between domestic and international markets is narrowing, and despite a global rebound, domestic buying sentiment remains limited.
Kimchi Premium Status by Coin
BTC: $105,660.54 / 145,744,500 won / +0.02%
ETH: $2,559.29 / 3,457,500 won / +0.02%
SOL: $174.66 / 213,000 won / -0.12%
XRP: $2.306 / 3,109.5 won / -0.12%
Doge: $0.2253 / 253.8 won / -0.11%
The Kimchi Premium indicates the price discrepancy of cryptocurrencies in Korean exchanges compared to overseas. The current level suggests that domestic investors are following global trends with a passive response. The market appears closer to a neutral supply situation rather than overheating.
Bitcoin Technical Analysis
The Bollinger Bands upper limit is $110,370, lower limit is $101,155, and the center line is $105,763 (20-day moving average).
Currently, Bitcoin is trading around $105,660, slightly below the center line. This suggests that buying sentiment has somewhat contracted compared to the previous day, and the possibility of approaching the upper band may be limited in the short term. A neutral trend continues between technical support and resistance lines.
The possibility of breaking through the upper band ($110,370) is limited in the short term and may act as a psychological resistance. If a pullback occurs, the recovery of the center line ($105,763) will likely be a turning point for the short-term trend. If the center line is not broken again, there is a possibility of adjustment down to the lower band ($101,155).
The RSI (Relative Strength Index) is 53.42, slightly rebounding from the previous day's 52.41. It is exploring direction in the mid-50s, close to the neutral zone. The likelihood of continued sideways movement is currently more significant than breaking through the box's upper limit.
If the RSI continues to rebound, it could strengthen short-term buying momentum, but strong momentum has not yet been detected. The key point will be whether the price can regain elasticity by settling above the center line.
[This article does not provide financial advice, and the investment results are the sole responsibility of the investor.]
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