Instead of thinking about where the liquidity in the domestic market has gone,
it's more accurate to understand that "there are still almost no new investors coming in," and existing investors are just watching the market or showing little interest, thinking, "I haven't even reached the average price of the altcoins I invested in yet."
If you try to understand the current thoughts of people who have never invested in cryptocurrency, the answer will come quickly.
Currently, the kimchi premium is in a continuous backwardation state, with overseas, especially the U.S., leading the rise.
New investors are not yet flowing into Korea, and they are likely living with thoughts like, "Oh? Bitcoin has gone up? I can't do it because it's too expensive."
Many of them will enter late when the alt season comes.
At first, they start with small amounts, but eventually, they feel FOMO and end up speculating on life with increasingly larger amounts instead of investing.
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