Live markets: Bitcoin steady above $63,000, BNB, SOL edge higher as AI stocks rebound
Da Anonimo
Bitcoin’s (BTC) fear gauge is easing, reinforcing the stability in the cryptocurrency’s price action after last week’s volatility.
Volmex’s 30-day implied volatility index (BVIV) has declined sharply to an annualized 47%, down from a Friday high near 60%, according to TradingView data. The drop signals that the panic-driven buying of options, or derivative bets offering protection from price swings, is cooling off.
This comes as bitcoin has stabilized near $63,000 following a brief dip below $60,000 last week.
Like the S&P 500 VIX in traditional markets, the BVIV typically moves inversely to the spot price. Its latest decline underscores a market that is digesting the selloff without renewed panic, potentially setting the stage for more measured trading ahead.
The AI dip-buyers who hammered crypto last week came back overnight, just not for crypto.
MSCI's Asia Pacific gauge rose 2.5%, South Korea's Kospi climbed as much as 8% with SK Hynix up 11%, and the Nasdaq 100 added 1.6% as a semiconductor gauge gained more than 5%.
Crypto got none of that action. Bitcoin trades near $63,300, up about 0.8% over 24 hours, and ether near $1,691, up 1.8%, per CoinDesk data. BNB and Solana lead the majors at roughly 2.3%.
Every large token is still deep in the red on the week, with bitcoin off 10.8%, ether down 16%, Solana and Hyperliquid both off about 17%, and dogecoin down 14.7%.
Crypto sold off alongside AI shares last week when the rout was pinned on stretched chip valuations, and that beta has flipped on the way up.
Source: CoinDesk
