Today in Crypto: South Korean Traders Push Bitcoin Into Its Deepest Discount Since 2021

According to recent market coverage, as bitcoin slipped to a 2026 low of $59,100, trading market data reveals that BTC priced against the South Korean won has been changing hands at a discount.

In fact, the Kimchi premium has vanished, and bitcoin has been trading below global market prices in South Korea for nearly a month.

For bitcoin pricing in South Korea, 2026 has delivered an unusual twist, with a substantial share of the year marked by pronounced discounts rather than the country’s customary premium.

According to Cryptoquant metrics, the discount trend first emerged at the beginning of March and has persisted ever since, with the first week of June recording the deepest discount of the year.

Since May 13, 2026, bitcoin has traded at a discount in South Korea every day except May 19, marking a stretch of nearly 24 consecutive days.

June 1 registered the deepest discount of 2026, as BTC priced against the South Korean won (KRW) fell to a 3.1% discount.

In fact, the last time the discount reached such levels was in February 2021, roughly five years and four months ago.

On June 1, bitcoin changed hands at $70,767 globally, yet in South Korea, it was priced $2,193 lower, with local exchanges quoting the asset at roughly $68,573 per coin.