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.
数字货币在韩国交易所大幅折价，但在东亚国家政治剧变的影响下有所恢复。
What happened: Major coins like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) sharply fell in value on Upbit, South Korea's largest cryptocurrency exchange.
事件简述：比特币（加密货币：BTC）和以太坊（加密货币：ETH）等主要数字货币在韩国最大的加密货币交易所Upbit上急剧下跌。
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.
比特币在韩国总统尹锁灶实行戒严后暴跌至71,800美元，尽管在美国最大的数字资产交易所Coinbase上则在95,500美元左右交易。
Similarly, Ethereum dropped to $2,700 on Upbit while trading over $3,600 on Coinbase.
同样，以太坊在Upbit跌至2,700美元，而在Coinbase上超过3,600美元交易。
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.
韩国溢价指数由区块链分析公司CryptoQuant提供数据显示，衡量了韩国交易所市场价格与其他交易所市场价格之间的百分比差异，暴跌至-14.67，表明零售投资者以低于市场平均价格的价格出售数字货币。
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
韩国溢价指数跌至-14.67的低位。#比特币在韩国与全球市场中巨幅折扣交易。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
请看：CleanSpark首席执行官扎克·布拉德福德解释为什么该公司押注比特币挖矿而非购买。
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.
然而，本应是有利可图的套利机会并没有持续很长时间，在本文撰写时，比特币在韩国交易所Upbit恢复至95,424美元，相对于全球货币的95,857美元，显示出了略微折价。以太坊也回升至3,700美元。
The recovery followed President Yoon's U-turn after he withdrew the martial law diktat after facing parliamentary opposition.
在遭到议会反对后，总统尹突然改弦易辙，撤销了戒严令，随后市场开始复苏。
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.
为什么重要：对于这些进展，著名分析师和CryptoQuant首席执行官Ki Young Ju想知道为什么比特币在政治不稳定时期出现抛售。
"Why did the people selling now even buy Bitcoin in the first place?' he asked.
“他问道：‘为什么现在抛售的人当初要买比特币呢？’
#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
#比特币韩国泡菜溢价创历史新低。
— Ki Young Ju (@ki_young_ju) 2024年12月3日
在政治不稳定时期，比特币不应该上涨吗？
他问：‘为什么现在抛售的人当初要买比特币呢？'???? pic.twitter.com/p8wNTGqmuq
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.
这些发展与韩国交易所上的数字货币价格可以高出国际同行高达30%的"泡菜溢价"现象背道而驰。
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.
Alameda Research创始人、现已关闭的FTX交易所创始人山姆·班克曼-弗里德曾经巧妙利用这种差异，据报道在2019年和2020年每天赚取高达一百万美元。
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.
价格走势：截至目前，比特币的价格为95,897.38美元，在过去24小时内下跌了0.29％，根据Benzinga Pro的数据。
Image via Shutterstock
图片来源：shutterstock
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