BTC price surpassed $72,000 in South Korea as the “Kimchi premium” widens, suggesting strong retail interest as the government mulls spot Bitcoin ETF approval.
Bitcoin (BTC) price briefly reached a new high of 96,734,000 South Korean Won, or $72,504, on March 5, 3:00 pm (UTC), on Upbit, the largest cryptocurrency exchange in South Korea.
This price difference is known as the Kimchi Premium or Korea Premium Index — and it has been in an uptrend along with BTC price since early February.
The Korea Premium index rose from 5.19 on Feb. 28 to 6.84 on March 5, according to on-chain data resource CryptoQuant.
