[BTC Surprisingly More Stable Than Korean Stocks, AI Hype Cooling Triggers Market Turmoil, Korean Stock Market Volatility Soars] Odaily Planet Daily News: As the AI investment frenzy cools, the Korean stock market has experienced significant turbulence recently, with its risk levels even surpassing Bitcoin, which has long been considered highly volatile. Data shows that the Korea Composite Stock Price Index (KOSPI) has dropped nearly 25% over the past four weeks, significantly impacted by the waning AI concept. Options market data indicates that the KOSPI 30-day Implied Volatility (IV) index has risen to an annualized 81%, more than double Bitcoin's volatility index BVIV, which is around 38%. Previously, Korean retail investors heavily leveraged margin trading and leveraged ETFs to bet on AI-related stocks, triggering large-scale forced liquidations amid high volatility. Statistics reveal that the liquidation scale has exceeded $2 trillion in less than three months. Analysts suggest that the Korean stock market's volatility surpassing Bitcoin may reflect that the global risk appetite driven by the AI investment boom has reached extreme levels. For Bitcoin supporters, BTC's volatility being lower than KOSPI is seen as an important signal of market maturity. However, Bitcoin still remains significantly riskier than traditional assets, with its 30-day volatility approximately double that of the S&P 500's VIX (below 20%). Currently, Bitcoin's price remains under pressure, trading below the closely-watched 50-day moving average. On-chain data firm Nansen noted that during the recent geopolitical tensions, wallets that typically initiate large-scale fund transfers have not shown a significant shift toward stablecoins. Nansen research analyst Nicolai Sondergaard stated that this situation is similar to market behavior during previous escalations in the Middle East: 'Short-term leveraged longs were liquidated, followed by a gradual accumulation of funds.' Meanwhile, the market is closely watching the upcoming regulatory hearing in Washington, D.C. Marex analysts pointed out that the 'CLARITY Act' is facing a critical test, and the crypto industry is awaiting a clear regulatory framework to drive further institutional capital into the market. (CoinDesk)