BTC: Korea Premium
Shown as its 2019–2022 sample; the latest readings and full history are included with Plus.
How far BTC trades above or below its US-dollar price on Korea's won markets (Upbit and Bithumb), in percent.
Why use it. Korean exchanges trade against the won behind capital controls that make moving money in and out slow, so local demand can lift prices above the rest of the world: a rising premium is read as Korean retail buying hard, a discount as local selling. How to read it. Positive values mean BTC costs more in Korea than elsewhere. A premium of a few percent is common; the retail manias of past cycles drove it to 10-20%. Look for premiums that build or fade over days, not single hours.
Calculation. For each venue: 100 x (the hour's close on its BTC/KRW market / KRW per US dollar / CryptoKeyhole's own hourly US-dollar index close - 1). The venues are weighted by the won each traded in the hour; a day is the average of its hours. KRW per US dollar: the European Central Bank's euro reference rates (won per euro divided by dollars per euro), set at 14:15 CET each business day; an hour uses the latest rate published by its close (16:00 UTC that day), weekends and holidays the last one. A daily exchange rate leaves intraday moves of the won in the hourly values (typically a few tenths of a percent); read the premium over days. Source: the public hourly candles of the Korean won markets of Upbit and Bithumb (BTC/KRW), read by us from each market's first hour and kept current every ten minutes, the European Central Bank's daily euro reference rates, and CryptoKeyhole's own hourly US-dollar price index.