Bitcoin price inversion hits 0.76% discount in South Korea amid rally

Bitcoin’s (CRYPTO:BTC) recent rally above $100,000 has coincided with a rare price inversion in South Korea, where the local premium turned into a 0.76 percent discount compared to global averages.

Data from CryptoQuant shows the inversion began on May 2, with South Korean exchanges like Bithumb and Upbit trading Bitcoin below the international average.

The discount deepened on May 9 and 10, reaching 0.76 percent below global prices, after premiums climbed as high as 3 percent on May 6.

Such discounts in South Korea are uncommon, with the previous inversion occurring in April when prices dipped 1.19 percent under the weighted global average.

Before that, the last time the South Korean won traded at a discount was in December 2024.

Meanwhile, the Coinbase Premium Index, which measures the price gap between Coinbase Pro and Binance, has mostly remained in premium territory since April 20.

The index saw brief reversals on May 4 and May 8 but generally indicates strong buying pressure from U.S. investors.

A won discount in South Korea may reflect subdued local demand, excess supply, or increased uncertainty in the market.

Bitcoin traded between $103,133 and $104,841 over the past 24 hours, maintaining momentum following its return above the six-figure mark for the first time since February.

The price inversion highlights shifting dynamics in regional Bitcoin markets amid global price movements.

Market analysts note that South Korea’s premium or discount levels can serve as indicators of local sentiment and capital flows relative to international markets.

At the time of reporting, the Bitcoin (BTC) price was $103,953.