Bitcoin Rally Triggers $1.84 Billion Surge on Upbit

Bithumb followed a similar trajectory, with daily volume climbing 132.9% to approximately $934.9 million. On both platforms, XRP emerged as the most traded asset, outpacing Bitcoin, Tether, and Ether. This activity represents a stark turnaround from earlier in the year, when South Korean investors largely ignored digital assets in favor of the KOSPI index, which hit record highs fueled by the semiconductor and artificial intelligence sectors.

Presto Research associate Min Jung noted that while the two-day surge is significant, it remains premature to confirm a permanent rotation of capital out of stocks. Historically, Korean retail investors exhibit a return-chasing behavior, often entering the crypto market only after a global rally is already underway. If the current price momentum persists, analysts expect a more substantial reallocation of funds into digital assets, which could further amplify price movements on the global stage.