AI frenzy losing steam leaves bitcoin less volatile than South Korean stocks

Bitcoin is under pressure amid geopolitical risk-off sentiment, trading below its 50-day moving average and slipping under $63,000. The article’s main market takeaway is comparative: South Korea’s Kospi, a major AI-boom beneficiary, has fallen nearly 25% in four weeks and now shows more than twice bitcoin’s 30-day implied volatility (81% vs. about 38%). That contrast suggests the AI trade is unwinding and taking broader risk appetite with it. Despite bitcoin’s weakness, Nansen says key wallets have not meaningfully rotated into stablecoins, implying no broad capitulation yet. Market participants are also watching Washington hearings on the Clarity Act, which could affect institutional crypto demand if regulatory clarity advances. Overall, the piece frames bitcoin as relatively less volatile than a major equity index, but still vulnerable to macro and geopolitical stress.