Bitcoin falls back after kimchi premium rises to 1.98% on Korean exchange

According to Cryptopolitan, on May 7th, the kimchi premium of Bitcoin on the Korean exchange rose to 1.98%, the highest level since the end of February. This premium is calculated through CryptoQuant's Korean Premium Index, reflecting the price difference between Bitcoin on the Korean exchange and the global volume weighted average price. During the US Iran conflict in early March, the index fell to a discount of -2.27%. At present, based on the weighted average price of Upbit price and global trading volume, the premium has fallen back to 0.77%.