First Mover Asia: Bitcoin’s Kimchi Premium Has Narrowed, but the Korean Market Is Proving Resilient

📆 5/2/2023 10:30 PM
📰 CoinDesk

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Good morning Asia! Here's what's happening: 1. BTC trades over $28.5K; realMatrixport research head says Korea's retail crypto market is strong. 2. A truflation analyst weighs whether the Fed is done with rate hikes. by TheSamReynolds, JPRubin23

Maybe, Oliver Rust, head of product at inflation data aggregator Truflation suggested in an email.

“With the US banking sector suffering a credit crunch following recent bank failures, and a buyout of First Republic…only just secured by US regulators and JP Morgan, the Fed will be weighing its rate decisions carefully from this point on,” Rust wrote. “However, if inflation refuses to budge, we could well see another hike, despite tighter credit conditions.

Fed critics have accused central bankers of spurring the current banking crisis through overly hawkish monetary policies. They had been hoping the bank would suspend its diet of rate hikes.

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