Escalating geopolitical tensions between Thailand and Cambodia have rippled through cryptocurrency markets, catalyzing a risk-off sentiment that pushed Bitcoin below key technical thresholds. Thailand’s deployment of F-16 fighter jets along the disputed border region, coupled with Cambodia’s appeal for United Nations intervention, intensified concerns regarding Southeast Asian supply chain stability.
Bitcoin broke critically below the $115,000 support level amid the heightened uncertainty, reflecting a broader flight from risk assets. Market analytics highlight substantial liquidation clusters between $120,000-$121,500, establishing this zone as formidable resistance. Technical indicators suggest potential further declines toward $112,300 if bulls fail to reclaim the $115,000 threshold in the near term.
Compounding the bearish outlook, the benchmark VIX volatility index continues its upward trajectory—typically correlated with risk aversion across financial markets. Analysts advise cryptocurrency investors to adopt defensive portfolio strategies until geopolitical strains show signs of de-escalation and market stabilization occurs.