According to analyst firm CryptoQuant's Korean Bitcoin Premium Index, the index turned negative on Wednesday, falling to -0.55, the largest discount since October 2023. In addition, trading volume data from South Korean trading platforms also showed that people are turning to high-beta cryptocurrencies (volatility greater than market volatility) for counterfeit products. Markus Thielen, founder of 10x Research, also said in a recent report that fast-moving traders are seizing the opportunity to buy their favorite counterfeit products in large quantities, with strong gains expected in the fourth quarter. With Bitcoin breaking through $60,000 and aiming to break through $65,000, savvy traders have amassed undervalued counterfeit products, including TAO, ENA, SEI, APT, SUI, NEAR, and GRT.