The Thailand-Cambodia conflict, is it really related to "someone's Bitcoin"? Don't let emotions lead you anymore.
Recently, with market fluctuations, discussions about the "Thailand-Cambodia conflict," "certain Chinese capital in Southeast Asia," and "Chen Zhi's large BTC holdings potentially crashing the market" have begun to circulate.
But to be frank: this type of narrative is more like an emotional product rather than a factual judgment.
First, let's get to the conclusion:
Currently, there is no credible evidence to prove that the Thailand-Cambodia conflict is directly related to any individual, any address, or any batch of Bitcoin.
So why has this narrative suddenly become popular?
First, the market is not doing well, and there is a natural need for an "explanatory object." When prices fall instead of rising, it's hard for people to accept the answer "it's just a washout," so they start looking for:
Is someone selling off?
Are large holders in trouble?
Is some country or capital operating behind the scenes?
Second, geopolitical conflicts are the best amplifiers of emotions.
As soon as keywords like "military," "conflict," or "border friction" appear, panic will be quickly amplified, and the crypto market is one where emotions can easily get out of control, resulting in various stories being pieced together.
But back to reality:
What truly affects Bitcoin's short-term volatility has never been these rumors.
The core variables currently affecting Bitcoin are only three points:
• The inflow and outflow rhythm of ETF funds
• Concentration of high-leverage positions being liquidated
• Macroeconomic liquidity expectations (interest rates, USD, risk appetite)
In comparison, the impact of the Thailand-Cambodia conflict on BTC is at most just a short-term emotional disturbance, not a decisive factor.
Even from a longer-term perspective, escalating geopolitical risks may actually reinforce Bitcoin's narrative as a "safe-haven asset." History has repeatedly shown that when panic strikes, BTC is often not the first to be abandoned.
In summary:
Do not replace judgments about funds and cycles with conspiracy theories.
What the market is doing now is not "who is secretly selling," but rather using fluctuations to wash out the most impatient people.
What truly matters has never been the rumors, but your own positions, mindset, and understanding of cycles.
