Bitcoin's 30-day realized volatility has decreased to 42%, remaining under 50% this month, according to TradingView data. This marks a significant shift for Bitcoin, traditionally known for its high volatility. In contrast, South Korea's Kospi index recently recorded a volatility of 74%, now around 51%. The decline in Bitcoin's volatility is attributed to increased institutional participation following the launch of spot ETFs in the U.S. in January 2024, which introduced more risk-managed capital flows. The South Korean stock market's volatility is largely driven by fluctuations in fossil fuel prices, exacerbated by geopolitical tensions such as the recent conflict involving Iran and the U.S.-Israel alliance. This contrasts with Bitcoin's relative stability, which has been maintained despite global market disruptions, with its price fluctuating between $65,000 and $75,000, supported by inflows from U.S.-listed ETFs.