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Bitcoin investment is losing pace in Korea, plateaued by a lack of investor enthusiasm compounded further by a regulatory gridlock in approving spot bitcoin exchange-traded funds (ETFs), market watchers said Tuesday.

The overall stagnant sentiment is unlikely to find upward momentum, as indicated by the "kimchi premium" slumping to nearly zero. It is significantly down from over 10 percent in mid-March at the height of the digital coin surpassing 12.4 million won ($90,000) in value.

The premium refers to the gap in the digital coin prices between Korean exchanges relative to offshore exchanges. The higher the figure, the stronger the demand from local investors.

Whether the potential reclaimed victory of former U.S. President Donald Trump will reignite the appetite for the risky asset class remains to be seen.

Many say the reign of once-hyped digital coins will return, as illustrated by Trump's stance favorable of eased financial regulations to reinvigorate the crypto market.

Bitcoin traded at $67,454 on Binance, the global top crypto exchange by trading volume. This translates to about 93.64 million won. The digital coin is traded at slightly over 94.03 million won on Upbit, a local crypto exchange.

The current "kimchi premium," as measured by the difference between the Binance-traded coins and Upbit-exchanged ones, stands at about 0.4 percent.