On December 26, CryptoQuant analyst Joo Hyun Ryu issued a document stating that during the recent market downturn, speculative short-term holders 'exposure to Bitcoin increased, especially driven by South Korean demand. The "kimchi premium", which measures the price gap between the Korean exchange and other exchanges, reached a local high of 5.12, indicating strong local demand. Rising buying interest among South Korean investors suggests the region is optimistic about Bitcoin's prospects, despite mixed signals from global markets. According to previous news, South Korean cryptocurrency investors exceeded 15 million in November. According to data submitted by the Bank of Korea, as of the end of November, a total of 15.59 million South Koreans had accounts on the country's five largest cryptocurrency exchanges (Upbit, Bithumb, Coinone, Kbit and GOPAX).