The bonuses of a sadly famous Bitcoin exchange (BTC) popularized by Sam Bankman Aweight returned to significant levels in a bloodbath of the market caused by the increase in American prices, a market sign that some consider lower in the short term.

The so-called Kimchi Premium, or the difference in Bitcoin prices on Korean exchanges compared to global scholarships, increased just over 10% during Asian hours on Monday while the BTC dropped by 6% during dernières 24 heures.

Arbitration consists in buying bitcoin on a world exchange and selling it on a Korean exchange for a risk -free profit in the Korean Won. It is difficult to pocket real gains due to strict capital controls in South Korea, but the premium is often used alongside other factors to assess the feeling of the market.

The negotiation volumes on Bithumb Korean exchanges and Upbit fell considerably last week, indicating a drop in retail negotiation activity. Meanwhile, the stablecoin stable stable sales in dollars were declining both exchanges with cases of withdrawal delays.

“It seems that most retail investors are already fully invested in Spot or have removed their funds to engage in Dex activities,” said Bradley Park, DNTV research analyst based in Seoul, in Coindesk in a telegram message .

“In this situation, the Kimchi Premium does not represent the surprise of retail investors; Rather, he seems to have increased as a passive response to the uncertainty of a strong dollar environment, ”added Park.

“The Kimchi premium can increase excessively when the trading volume increases, but it can also help defend prices when the prices of assets on scholarships abroad drop considerably,” said Park, adding that it was not Probably not a positive sign “in the short term for Bitcoin.