Analytics: South Korean Traders Are Positioning for Premium Torrents, Stronger Torrents Expected in Q4
On Sept. 25, the South Korean Bitcoin Premium Index turned negative on Wednesday, falling to -0.55, the biggest discount since October 2023, according to analytics firm CryptoQuant. In addition, trading volume data from South Korean trading platforms also showed a shift toward high-beta (volatility greater than market volatility) cottage cryptocurrencies.
Markus Thielen, founder of 10x Research, likewise said in a recent report that fast-moving traders are seizing the opportunity to buy large quantities of their favorite cottage coins, with strong gains expected in the fourth quarter. With Bitcoin crossing $60,000 and aiming to break $65,000, savvy traders have been accumulating undervalued torrents, including TAO, ENA, SEI, APT, SUI, NEAR and GRT.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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