According to statistics from Coinranking, the Kimchi premium—a term used to describe the spread in prices caused by variables including capital controls and strong demand in the South Korean market—was mostly responsible for the significant surge in Bitcoin prices on South Korean crypto exchanges, which exceeded the $75,000 threshold.
According to data from Yahoo Finance, the extraordinary rise in the price of Bitcoin was accompanied by a significant milestone in the trading volume of spot Bitcoin exchange-traded funds (ETFs), which exceeded $100 billion. Additionally, the largest asset manager in the world, BlackRock, saw its Bitcoin ETF reach $10 billion in assets under management at a faster rate than any other ETF in American history.
In the meantime, FundStrat Global Advisors' founder and head of research, Tom Lee, voiced optimism about the future trajectory of Bitcoin, predicting that it may rise to an astounding $150,000 in the next 12 to 18 months.
