While Bitcoin Tops $122K, South Korea’s Price Gap Widens Again
Main Idea
Bitcoin's price in South Korea remains lower than global rates despite reaching an intraday peak of $122,208, with the price gap widening again after a brief premium period.
Key Points
1. Bitcoin reached an intraday peak of $122,208, but prices in South Korea stayed below global market rates.
2. The price gap in South Korea fluctuated, briefly turning into a premium in early August before reverting to a discount, which widened to 1.49% by August 12.
3. As of the latest data, BTC was priced at $120,826 on South Korean exchanges like Upbit and Bithumb, reflecting a persistent discount.
4. One contributing factor to the discount may be President Trump's 25% tariff on South Korean imports, effective August 1, 2025.
5. Upbit, South Korea's leading exchange by volume, handled over $4 billion in crypto trades in the last day.
Description
With bitcoin reaching an intraday peak of $122,208 on Wednesday, prices in South Korea remain lower than global market rates. Down Over $1,200—Bitcoin Price Diverges as South Korea’s Market On July’s final day, bitcoin’s price in South Korea finally lined up perfectly with the global exchange rate, ending a discount streak that had lingered since
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