Goldman Sachs: Korean retail funds flow into cryptocurrency market, KOSPI index relies on foreign investment and institutions for upward trend

Goldman Sachs analyst Chris Cha stated that Korean retail liquidity continues to flow into the cryptocurrency market, and the subsequent rise of the KOSPI index will rely more on foreign and institutional buying. After Bitcoin returned to $85000, cryptocurrency trading in South Korea heated up, with Upbit's daily spot trading volume rising from $770 million on June 13 to $1.817 billion on September 22. On September 22, the total transaction volume of the five major trading platforms in South Korea reached 3.27 billion US dollars. Goldman Sachs believes that October is a key window to test foreign investment in South Korean semiconductor and AI assets.