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Bitcoin shows lower options volatility than South Korea’s Kospi index

South Korea’s Kospi options 30-day implied volatility is about 81% annualized versus bitcoin’s roughly 38%, while Kospi has fallen nearly 25% in four weeks.

Reported · Written up by our desk · Market Structure

CoinDesk reports that amid geopolitical tensions weighing on crypto and bitcoin, a cross-market volatility comparison suggests bitcoin has been steadier than South Korea’s Kospi as the AI-driven rally cools. The Kospi index has slumped nearly 25% in just four weeks, while options traders have priced the index as far more volatile than bitcoin.

According to Bloomberg and Volmex data cited by CoinDesk, Kospi’s options-based 30-day implied volatility is about 81% annualized, more than double bitcoin’s “BVIV” measure of roughly 38%. The newsletter also notes that implied volatility is based on options demand, including hedging and protection against price swings.

CoinDesk links the heightened Kospi stress to risk-taking by retail traders using margin and leveraged ETFs, saying forced liquidations have totaled more than $2 trillion in less than three months. The piece frames this as a warning sign for other global markets where the AI frenzy may have encouraged leveraged positioning.

CoinDesk adds that bitcoin has still been pressured in price terms, trading below its widely followed 50-day moving average, though it points to steadier behavior relative to equities. It also cites analytics firm Nansen, saying wallets that typically move first during geopolitical flare-ups have not meaningfully shifted into stablecoins, consistent with earlier Middle East flare-ups where leveraged longs were flushed before accumulation resumed.

Latest closeBitcoin $63,123.03 ▼1.0%|Kospi 7,284.41 ▲6.2%

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