The Kimchi Premium, which refers to the higher cryptocurrency prices in Korea compared to overseas markets, has narrowed to around 0.1%.
As of 8:06 AM on June 3rd, according to DataMaxiPlus, the Kimchi Premium (Upbit-Binance) recorded -0.11%.
This is a decrease from the previous day's -0.94%. Major altcoins such as Ethereum, SOL, and Doge are also showing stability in the negative range, effectively eliminating the price gap between domestic and international markets. As the global market continues to rebound, domestic buying sentiment is also regaining balance.
Kimchi Premium Status by Coin
BTC: $105,701.99 / 147,996,000 won / -0.11%
ETH: $2,667.62 / 3,635,500 won / -0.13%
SOL: $159.71 / 219,475 won / -0.01%
XRP: $2.27 / 3,074.5 won / -0.09%
Doge: $0.1981 / 273.25 won / -0.08%
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 almost in sync with global trends. The narrowed premium is a result of stable buying based on real demand rather than overheated expectations.
Bitcoin Technical Analysis
According to Bollinger Bands, the upper band is at $112,760, the lower band is at $96,223, and the center line is at $104,492 (20-day moving average).
Bitcoin is currently trading around $105,701, above the center line. This indicates that short-term buying sentiment is valid, and the possibility of approaching the upper band continues. The upward momentum is gradual, but additional momentum is expected if the resistance line is broken.
Technically, breaking the upper band ($112,760) is a key point, and the gap with the psychological resistance line is narrowing. Conversely, if the upward trend reverses, the center line ($104,492) could serve as a short-term trend baseline. If it breaks, a potential correction to the lower band ($96,223) should be considered.
The RSI (Relative Strength Index) is at 61.86, showing a clear rebound compared to the previous day's 52.41. After exiting the overbought zone (73 level) last week, it is showing a re-entry trend, with short-term buying sentiment gradually increasing.
The recovery of the RSI to the 60 level and forming support is technically positive. When the price settles above the center line, the possibility of breaking the box's upper boundary may be reignited.
[This article does not provide financial advice, and the investment results are the sole responsibility of the investor.]
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