On July 25, escalating tensions between Thailand and Cambodia at their shared border prompted Thailand to deploy F-16 fighter jets, while Cambodia sought intervention from the United Nations. This geopolitical unrest has triggered concerns over the stability of Southeast Asia’s supply chains, prompting increased risk aversion across Asian financial markets. Investors have shifted capital towards traditional safe havens such as gold and the US dollar, reflecting heightened uncertainty.
Concurrently, the cryptocurrency market exhibited clear signs of risk-off sentiment, with Bitcoin (BTC) breaking below a critical support level near $115,000. Analysis of liquidation data highlights a formidable resistance zone between $120,000 and $121,500, indicating significant selling pressure at these price points. Market participants are closely monitoring these technical levels amid ongoing geopolitical developments.
According to Bitunix analysts, the current geopolitical instability has dampened short-term risk appetite, suggesting that if BTC fails to regain the $115,000 threshold promptly, it may test lower support levels around $112,300. A cautious approach is advised, emphasizing the importance of volume confirmation during any rebound. Additionally, a rising VIX index could signal sustained risk-off dynamics, underscoring the need for prudent leverage management and risk mitigation strategies in crypto portfolios.