Upbit Volume Jumps 1,426% as KOSPI Drops 10% and Bitcoin Holds Near $62,600
Updated
Updated · CoinDesk · Jul 14
Upbit Volume Jumps 1,426% as KOSPI Drops 10% and Bitcoin Holds Near $62,600
3 articles · Updated · CoinDesk · Jul 14
Summary
Upbit trading volume surged 1,426% after South Korea’s KOSPI fell 10% since Friday, signaling Korean investors are rotating back into crypto.
Bitcoin steadied at $62,600 after sliding from $64,400 to $61,800, with Binance data pointing to $61,300 as the key liquidation level if losses deepen.
Derivatives stayed relatively calm despite the selloff: open interest held at $17.1 billion, funding remained broadly neutral, and 24-hour liquidations reached $283 million, led by longs at a 74-26 split.
Options still show a mild bullish bias, but that premium is fading as the put-call mix softened to 58/42 from 64/36 and one-week delta skew narrowed to 15% from 26%.
The Korea-driven crypto rebound may mark an unwind of the late-2025 machine-chip trade that pulled local investors out of digital assets, while altcoin sentiment has also improved with CoinMarketCap’s Altcoin Season gauge at 54.