Mar 7, 2024 - Economy
Why Bitcoin highs are so complicated
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Some folks are cheering new all-time highs for bitcoin, while others are still waiting.
Why it matters: At what price bitcoin (BTC) peaked depends on the platform — numbers vary across exchanges, according to Kaiko Research.
Zoom in: The firm found that exchange-specific highs diverged across the board, using a volume-weighted average price analysis on USD-BTC trading pairs.
- Data from CoinMarketCap and CoinGecko were pulled from those respective sites, which offer prices based on some kind of average from many marketplaces.
Between the lines: The kimchi premium is back, and then some.
- This describes a phenomenon on South Korea-based crypto exchanges, which block foreign traders from using them, showing higher prices for crypto relative to others in different places.
What we're watching: Are we there yet?
