South Korea's bitcoin "kimchi premium" surged to 9.7% at 2 a.m. on February 3, hitting a 10-month high since April 2024, driven by concerns about Trump's tariff war. Min Jung, analyst at Presto Research, said kimchi premiums typically rise during bull markets but can also spike during panic selling, as selling pressure on Korean exchanges is lower than in global markets. As of press time, kimchi premiums have fallen back to 8.24 per cent, compared with a historical average of about 5 per cent.