Bitcoin Dumped And Recovered In South Korea Amid Political Turmoil — An Arbitrage Opportunity That Wasn't?
Bitcoin Dumped And Recovered In South Korea Amid Political Turmoil — An Arbitrage Opportunity That Wasn't?
Similarly, Ethereum dropped to $2,700 on Upbit while trading over $3,600 on Coinbase.Cryptocurrencies traded at big discounts in the South Korean market Tuesday but recovered amid intense political drama in the East Asian nation.
加密貨幣週二在韓國市場以大幅折扣交易，但在東亞國家激烈的政治戲劇中回升。
What happened: Major coins like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) sharply fell in value on Upbit, South Korea's largest cryptocurrency exchange.
發生了什麼：韓國最大的加密貨幣交易所Upbit的比特幣（加密貨幣：BTC）和以太幣（加密貨幣：ETH）等主要代幣的價值急劇下跌。
Bitcoin plunged as low as $71,800 after President Yoon Suk Yeol imposed martial law in the country, even though it traded around 95,500 on Coinbase, the largest digital assets exchange in the U.S.
在美國總統尹錫烈對該國實施戒嚴令後，比特幣暴跌至71,800美元，儘管它在美國最大的數字資產交易所Coinbase上的交易量約爲95,500美元。
Similarly, Ethereum dropped to $2,700 on Upbit while trading over $3,600 on Coinbase.
同樣，以太幣在Upbit上跌至2700美元，而在Coinbase上的交易價格超過3,600美元。
The Korea Premium Index, which measures the percentage difference between the market prices of Korean exchanges and other exchanges, plummeted to -14.67, according to on-chain analytics firm CryptoQuant, indicating that retail investors were selling at a lower price than the average market price.
根據鏈上分析公司CryptoQuant的數據，衡量韓國交易所與其他交易所市場價格之間百分比差異的韓國溢價指數暴跌至-14.67，這表明散戶投資者的出售價格低於平均市場價格。
The Korea Premium Index has dropped to a low of -14.67. #Bitcoin is trading at a steep discount in South Korea vs. global markets. pic.twitter.com/3LJTQm2fQH
— CryptoQuant.com (@cryptoquant_com) December 3, 2024
韓國溢價指數已跌至-14.67的低點。#Bitcoin 在韓國的交易價格與全球市場相比大幅折扣。pic.twitter.com/3ljtqm2FQH
— CryptoQuant.com (@cryptoquant_com) 2024 年 12 月 3 日
See Also: CleanSpark CEO Zach Bradford Explains Why The Company Is Betting on Bitcoin Mining, Not Buying
另見：CleanSpark首席執行官扎克·布拉德福德解釋了爲什麼該公司押注比特幣挖礦而不是購買
However, what should have been a profitable arbitrage opportunity did not last long, as Bitcoin returned to $95,424 on South Korean exchange Upbit as of this writing, showing a narrow discount from the cryptocurrency's global price of $95,857. Ethereum also recovered to $3,700.
但是，本應有利可圖的套戥機會並沒有持續很長時間，因爲截至撰寫本文時，韓國交易所Upbit的比特幣重返95,424美元，與該加密貨幣的全球價格95,857美元相比略有折扣。以太幣也回升至3,700美元。
The recovery followed President Yoon's U-turn after he withdrew the martial law diktat after facing parliamentary opposition.
復甦是在尹總統在面臨議會反對後撤回戒嚴令後掉頭之後出現的。
Why It Matters: Taking note of the developments, noted analyst and CryptoQuant CEO Ki Young Ju wondered why Bitcoin was selling off in times of political instability.
爲何重要：注意到事態發展，著名分析師兼CryptoQuant首席執行官Ki Young Ju想知道爲什麼比特幣在政治動盪時期會被拋售。
"Why did the people selling now even buy Bitcoin in the first place?' he asked.
「爲什麼現在賣出的人一開始還要購買比特幣？」他問。
#Bitcoin kimchi premium hits an all-time low.
— Ki Young Ju (@ki_young_ju) December 3, 2024
Shouldn't Bitcoin go up during times of political instability?
Why did the people selling now even buy Bitcoin in the first place? pic.twitter.com/p8wNTGqmuq
#Bitcoin 泡菜保費創歷史新低。
— Ki Young Ju (@ki_young_ju) 2024 年 12 月 3 日
在政治動盪時期，比特幣不應該上漲嗎？
爲什麼現在賣出的人一開始還會購買比特幣？pic.twitter.com/p8wntgqm
These developments were opposite to the popular "Kimchi Premium" phenomenon, where prices of cryptocurrencies on Korean exchanges can trade at a premium of as much as 30% above their international counterparts.
這些發展與流行的 「泡菜溢價」 現象相反，在這種現象中，韓國交易所的加密貨幣價格可以比國際同行高出30％的溢價。
Sam Bankman-Fried, the founder of Alameda Research and the now-defunct FTX exchange, famously exploited this difference, reportedly earning up to a million dollars daily in 2019 and 2020.
阿拉米達研究公司和現已停業的FTX交易所的創始人山姆·班克曼-弗裏德著名地利用了這種差異，據報道，他在2019年和2020年每天的收入高達一百萬美元。
Price Action: At the time of writing, Bitcoin was trading at $95,897.38, down 0.29% in the last 24 hours, according to data from Benzinga Pro.
價格走勢：根據Benzinga Pro的數據，在撰寫本文時，比特幣的交易價格爲95,897.38美元，在過去24小時內下跌0.29％。
Image via Shutterstock
圖片來自 Shutterstock
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譯文內容由第三人軟體翻譯。
