Bitcoin: Korean Pivot Signals Global Kimchi Premium Spread
André Dragosch notes Korean stock investors pivoting into bitcoin on positive Kimchi premium as KOSPI drops 9 percent over two days while bitcoin recovers after a 2 percent dip.
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Bitcoin is drawing capital from Korean equities as KOSPI falls roughly 9 percent across two sessions while the cryptocurrency drops only 2 percent before fully recovering, according to André Dragosch citing Teddy Fusaro.
Price sits at $83499.74 inside the Bollinger band with the 50-EMA at $83474.2 acting as immediate support and the 200-EMA at $82319.61 marking the next structural floor; MACD maintains its golden cross at -3.39 while RSI at 51.99 shows neutral momentum, suggesting any test of upper-band resistance near $84254.21 could trigger a measured pullback to the 50-EMA before continuation.
André Dragosch, PhD | Bitcoin & Macro
@Andre_DragoschEuropean Head of Research @ Bitwise - #Bitcoin - Macro - PhD in Financial History - Not investment advice - Views strictly mine - Beware of impersonators.