The Kimchi Premium, which refers to the higher cryptocurrency prices in Korea compared to overseas markets, has slightly decreased to around 0.02%.
As of 8:06 AM on June 11th, according to DataMaxiPlus, the Kimchi Premium (Upbit-Binance) recorded -0.02%.
This is a somewhat reduced figure from the previous day's 0.02%. Major altcoins such as Ethereum, Solana, and Doge have all turned negative, showing a slight narrowing of the price gap between domestic and international markets. Amid the global uptrend, domestic buying sentiment remains relatively stable.
Kimchi Premium Status by Coin
Bitcoin (BTC): $109,612.28 / ₩150,078,000 / -0.02%
Ethereum (ETH): $3,820.55 / ₩3,822,000 / -0.02%
Solana (SOL): $224.61 / ₩224,600 / -0.06%
XRP: $3.156 / ₩3,155.5 / -0.06%
Doge: $0.2687 / ₩268.5 / -0.13%
The Kimchi Premium is a price disparity phenomenon where cryptocurrency prices are higher or lower on Korean exchanges compared to overseas markets. The current level suggests that domestic investors are moving in a pattern similar to the global trend. The reduction in premium is interpreted as a moderate market response rather than strong buying pressure.
Bitcoin Technical Analysis
According to Bollinger Bands, the upper band is at $111,118, the lower band is at $101,142, and the center line is at $106,130 (20-day moving average).
Bitcoin is currently trading around $109,612, above the center line. This suggests that the short-term upward trend is maintained, with the possibility of approaching the upper band. However, the pace has somewhat slowed compared to recent times.
Technically, there is room to break through the upper band ($111,118), and additional increases are possible if strong buying momentum is maintained. Conversely, if the upward trend weakens, the support at the center line ($106,130) will be key to maintaining the trend. If this point is breached, a correction to the lower band ($101,142) cannot be ruled out.
The RSI (Relative Strength Index) is at 56.53, rising from the previous day's 52 level, showing a recovery. It has avoided the overbought area with a low-point rebound, maintaining technical buying potential.
The recovery of the RSI to the mid-to-late 50s suggests the possibility of a short-term trend resumption. If the price settles above the center line, an attempt to break through the box range's upper limit may follow, which could be a turning point in the trend.
[This article does not provide financial advice, and the investment results are the sole responsibility of the investor.]
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