[Analysis] Korean Investors Return... Bitcoin Supports Key Trend Line at $94,600

An analysis has emerged that with the recovery of short-term buying by Korean investors, Bitcoin (BTC) is maintaining its key trend line, the 50-day moving average.

On the 25th (local time), according to a report by the cryptocurrency specialist media Cointelegraph, Keith Alan, co-founder of Material Indicators, stated, "The current Bitcoin price is represented in the form of trend lines at $99,600 (21-day moving average) and $94,650 (50-day moving average). Bitcoin has maintained the 21-day moving average as support since mid-October, and the 50-day support line is still being maintained."

The on-chain analysis platform CryptoQuant analyzed that despite the continuous outflow of funds from Bitcoin (BTC) spot ETFs recently, the influx of Korean cryptocurrency investors is increasing, balancing the market.

CryptoQuant explained, "Despite this week's crash, Bitcoin exposure among Korean short-term holders (STH) is increasing. The recent surge in demand can be confirmed by the Kimchi Premium (the price difference of cryptocurrencies between Korean and global markets) soaring to over 5%."