The Kimchi Premium, which represents the price difference of cryptocurrencies in the domestic market compared to overseas markets, has turned negative at -0.01%.
As of 8:08 AM on August 3rd, according to DataMaxiPlus, the Kimchi Premium (Upbit-Binance) was confirmed at -0.01%.
This is a slight decrease from the previous day's 0.0067%. Major altcoins such as Ethereum, SOL, and Doge have also transitioned to a negative phase, further narrowing the price gap between domestic and international markets. The market is moving more closely with global market trends, and domestic buying sentiment remains stable.
Kimchi Premium Status by Coin
BTC: $112,607.44 / ₩158,019,500 / -0.01%
ETH: $4,763.45 / ₩4,757,500 / -0.13%
SOL: $222.38 / ₩222,400 / -0.04%
XRP: $3.911 / ₩3,908.5 / -0.08%
Doge: $270.47 / ₩270.5 / -0.0017%
The Kimchi Premium is a price disparity phenomenon where cryptocurrency prices are higher or lower in Korean exchanges compared to overseas markets. The current slight negative premium indicates that domestic buying sentiment has somewhat eased. It is interpreted as a wait-and-see market rather than price expectations, with trading continuing in a stable supply environment.
Bitcoin Technical Analysis
According to the Bollinger Bands, the upper band is at $123,566, the lower band is at $108,246, and the center line is at $115,906 (20-day moving average).
Currently, Bitcoin is trading around $112,607, fluctuating below the center line. This indicates a short-term adjustment followed by a rebound, with the possibility of approaching the upper band being re-explored. The upward momentum is gentler than the previous day, but buying pressure is confirmed at the lower support line.
Technically, it is entering a transition zone to break through the upper band ($123,566), and if a strong upward trend continues, additional rally can be expected. However, the ability to digest short-term selling pressure around the psychological resistance of $120,000 could be crucial.
Conversely, if the rebound weakens, the center line ($115,906) may again act as resistance. The influx of buying pressure at this point is expected to be a turning point for a potential short-term trend reversal.
The RSI (Relative Strength Index) is 54.36, a rebound from the previous day. The upward trend since recovering the 50-line is interpreted as reflecting buying pressure. While not in an overbought phase, there is a possibility of a technical strength reversal.
The stable trend in the mid-50s RSI suggests a period of accumulating momentum for a trend reversal. The breakthrough of the short-term box range's upper limit and recovery of the center line will serve as important technical indicators.
[This article does not provide financial advice, and the investment results are the sole responsibility of the investor.]
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