South Korea’s ‘Kimchi Premium’ Evaporates; Major Cryptos Tumble on Fed Minutes, Continued Global Uncertainty

In an interview with CoinDesk TV’s “First Mover” program, Scott Freeman, co-founder and partner of financial services firm JST Capital, suggested the global unrest was hurting bitcoin’s price, despite major buys over the past 10 days by Terra’s Luna Foundation and MicroStrategy (MSTR), which purchased over $190 million in the crypto this week. “It’s hard to lay a finger on the movement of bitcoin right now,” Freeman said. “At the end of the day, we believe there are business macro themes in the environment where people are just not looking to put risk-on right now. People look for opportunities to sell and to profit.”