Kimchi Premium Bitcoin Surges on Trump Pro-Crypto Momentum

- Bitcoin Price Reaches 158 Million KRW - Surge Before Donald Trump’s Inauguration as U.S. President-elect [Unblock Media] The price of Bitcoin has been seeing a significant upward trend ahead of Donald Trump’s inauguration as the U.S. President-elect. According to Upbit, a Korean digital asset exchange, Bitcoin recorded 158 million KRW at around 3:46 PM on January 19th, breaking its all-time high. This surpassed the previous all-time high of 157,198,000 KRW recorded on December 17th, establishing a new record in the Korean market within just a month. Market experts attribute this Bitcoin surge to Trump’s digital asset market activation pledges. Throughout his presidential campaign, Trump emphasized various “pro-digital asset” pledges, such as establishing a national strategic Bitcoin reserve, replacing the chair of the Securities and Exchange Commission, creating a Digital Asset Advisory Committee, fully mining the remaining Bitcoin supply, and expanding dollar-based stablecoins. CoinDesk reported that if Trump establishes a Digital Asset Advisory Committee, the current uncertainties in the regulatory environment could improve, attracting more businesses and investors. There’s growing anticipation that if these pledges are realized, the digital asset market could become more active, especially centered around the United States, sparking investor interest in Bitcoin. Korean investors’ sentiment is also highly positive. The “Alternative Fear and Greed Index,” reflecting the investment sentiment of the digital asset market, stands at 77, indicating the “Extreme Greed” level. This index is calculated by aggregating factors such as trading volume, market volatility, social media sentiment, and survey results, with higher scores indicating stronger buying sentiment. Alternative.me, which operates the official website for the Crypto Fear and Greed Index, explained that this index is used to predict market changes by analyzing past investor behavior patterns. Additionally, the “Kimchi Premium,” which refers to the price difference between Korean exchanges and overseas exchanges, remains in the 3% range, indicating higher prices in the Korean market compared to abroad. The Block analyzed that this premium stems from liquidity differences and currency rate volatility between the Korean and global markets, reporting that this phenomenon arises from high demand and limited supply among Korean investors. Global traders are also optimistic about the potential for further Bitcoin price increases. Trader ‘Pentoshi’ predicted that “Bitcoin’s all-time high is imminent,” while trader Moataz El-Sayed analyzed that “Bitcoin has entered the 'belief stage' in the current price cycle,” with the potential to rise up to $150,000 (about 190 million KRW) during this cycle. Trader Daan Crypto Trades forecasted that “Bitcoin could reach a new all-time high next week, but the key will be whether it can hold support at $102,700 (about 130 million KRW) before the weekly close.” Additionally, market analysts pointed out the formation of a “cup and handle” pattern, suggesting the possibility of a short-term rise to $122,000 (about 160 million KRW). Keith Allen, co-founder of Material Indicators, stated that “Bitcoin is recovering its key moving averages and returning to all-time high territory,” adding that “while it may face resistance at $108,000 and $110,000, breaking through these levels would validate the $122,000 target.” With Trump’s inauguration as President-elect approaching, global interest in the digital asset market is intensifying. If the Trump administration implements pro-digital asset policies as promised, the digital asset market, including Bitcoin, could see significant growth.