Korean Crypto Traders Flock Back as Bitcoin Surges Past $79,500

South Korean crypto traders are returning to the market as Bitcoin has reached a three-month high of $79,500. The sharp rise in trading volume suggests that investors may be moving money back into crypto after months of weaker activity.

Upbit's 24-hour trading volume jumped 273% to $1.84 billion, with Bithumb's volume rising 132.9% to $934.9 million. Together, the two exchanges handled nearly $3 billion in KRW trading volume over 24 hours.

The recent surge may be linked to a shift in where Korean traders are putting their money. Earlier this year, strong gains in the KOSPI, Samsung, and SK Hynix drew more investors toward stocks, while crypto trading slowed.