According to analyst firm CryptoQuant's Korean Bitcoin Premium Index, the index turned negative on Wednesday, falling to -0.55, the largest discount since October 2023. In addition, trading volume data from South Korean trading platforms also showed that people are turning to high-beta cryptocurrencies (volatility greater than market volatility) for counterfeit products.
Markus Thielen, founder of 10x Research, also said in a recent report that fast-moving traders are seizing the opportunity to buy their favorite counterfeit products in large quantities, with strong gains expected in the fourth quarter. With Bitcoin breaking through $60,000 and aiming to break through $65,000, savvy traders have amassed undervalued counterfeit products, including TAO, ENA, SEI, APT, SUI, NEAR, and GRT.
Analysis: Korean traders are deploying high-quality counterfeit products, and counterfeit products are expected to strengthen in Q4
2024-09-25 11:21:21
Analysis company cryptoquant Korea bitcoin premium index displaydesk3cryptocurrencydesktopCrypto News
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
