Crypto assets stall amid stock market rally... Upbit Index drops 8% [Crypto Briefing]

According to The Financial News, the market for Bitcoin (BTC) and other crypto assets has been stuck in a trading range, held back by regulatory uncertainty despite rallies in domestic and global stock markets. The Upbit Composite Index, which reflects all crypto assets listed on the won-denominated market, fell 8% over the past week, and the downturn in the altcoin market excluding Bitcoin has been even more pronounced.
As of 9 a.m. on the 27th, the Upbit Composite Index stood at 13,200.86, down 7.98% from a week earlier. The Upbit Altcoin Index (UBAI) plunged 11.9%, posting a steeper decline than the composite index. Over the same period, the Korea Composite Stock Price Index (KOSPI) and the KOSDAQ Index rose 2.25% and 11.50%, respectively, highlighting the contrast.
The Crypto Fear and Greed Index, which gauges sentiment in the crypto market, also dropped 15 points from the previous week to 38, entering the "fear" zone.
Bitcoin (BTC) is also losing upward momentum. After closing at 96,934.50 dollars on the 14th, BTC has been retreating. As of 3 p.m. on the 27th, it was fluctuating around 88,477 dollars, moving sideways in a short-term trading range.
Industry participants point to the delay in handling the Digital Asset Market Clarity Act of 2025 (CLARITY Act of 2025), a bill on crypto market structure, as the main driver of the current correction. As the United States Senate decided to prioritize housing policy, many analysts now expect deliberations on the crypto bill to be pushed back to late February or later.
Hong Jin-hyun, a researcher at Samsung Securities, stated, "As issues related to housing and living costs in the United States have emerged as core concerns for voters, the United States Senate Committee on Banking, Housing, and Urban Affairs has reset its overall legislative priorities toward housing policy and measures to ease living expenses." He added, "This is increasing policy uncertainty for the crypto market and is leading to weaker investor sentiment."
Some observers also argue that declining trading volumes in the crypto market are rapidly draining liquidity. Indicators of institutional demand, such as the Coinbase Premium Index, have turned negative at minus 0.11%, showing that aggressive buying by global institutional investors has also slowed.
Experts say whether Bitcoin can firmly hold the 85,000-dollar level as strong support will be crucial for the market outlook. Many believe it will be difficult to break out of the current range unless there is a policy breakthrough. An industry official commented, "Unless domestic and overseas policy risks are resolved, crypto assets could remain sidelined for some time, even in an 'everything rally.'"

elikim@fnnews.com Kim Mi-hee Reporter