According to Odaily Planet Daily, CryptoQuant data shows that the Bitcoin premium in the South Korean market has recently surged back to around 2%, hitting a new high since the outbreak of the US-Iran conflict. The ‘kimchi premium’ in the Korean market is mainly driven by local demand, as the market has long been relatively independent from global markets due to capital controls and KYC requirements based on residency. Data indicates that in 2025, the Bitcoin price in Korea was above the global volume-weighted average price (VWAP) for most of the time, with the premium peaking at 8.27% after BTC broke the historical high of $126,000 in October 2024. Following the outbreak of the Middle East conflict in 2026, volatility in the Korean market significantly increased, with a dip of about 2.27% seen in early March, followed by continuous market fluctuations.