The crypto market is significantly rising, while the Korean investors are showing a notably subdued outlook. As per Crypto Dan, a popular crypto analyst associated with CryptoQuant, the present market rally is led chiefly by overseas markets like the U.S., while the “kimchi premium” of South Korea is still in a significant reverse premium condition. The popular crypto trader took to social media to share insights into the subdued investor sentiment of the Korean crypto sector.
Korean Crypto Sector Shows Subdued Outlook Despite Global Bull Run
In line with the exclusive market data, the new crypto rally has not entered the Korean crypto ecosystem. Many think that Bitcoin’s ($BTC) recent price spike seems too expensive, thus they are standing on the sidelines, moving without substantial interest. Historically, the retail traders in Korea have been the leading in terms of extreme speculative energy. In this respect, they often outperformed global markets in terms of price premiums and trading volume.
Nonetheless, many of the present investors are currently underwater, looking for price spikes to former buy-in levels. Hence, while witnessing that the market is far from touching the average purchase price levels, they are still waiting. Such a wait-and-see attitude sharply opposes the euphoric FOMO-led phases that took place during previous bull markets.
Altseason’s Peak Could Dramatically Change Investor Behavior in Korean Crypto Market
On the other hand, the CryptoQuant analyst also warns about a dramatic change in the Korean investors’ behavior during the ultimate arrival of the altseason. Hence, amid the surge in new inflows, the Korean investors’ altcoin mania often surpasses the overseas markets. Thus, the FOMO plays a crucial role in this situation among small investments, sometimes posing massive risk to the savings portions.
However, at the moment, the Korean crypto landscape is calm, probably deceptively. Therefore, there is a possibility for the Korean market to lead the others if altseason again touches its peak.
