What To Know
- The Thai market, which recently surpassed the one trillion baht valuation mark, has seen a decline in trading activity as investors adopt a wait-and-see approach.
- The move is part of Thailand’s broader ambition to position itself as a digital finance and blockchain innovation hub, attracting global capital and legitimizing crypto trading within a well-regulated environment.
Bangkok Business News: Global Market Meltdown Following Tariff Shock
The global cryptocurrency market was thrown into turmoil this week after U.S. President Donald Trump announced plans to impose a 100 percent tariff on Chinese imports, reigniting fears of a full-scale trade war. Within 24 hours, over 9.5 billion dollars in crypto positions were liquidated, sparking panic among investors and sending Bitcoin and Ethereum prices into a steep decline.
Traders around the world panic as Trump’s tariff announcement triggers the biggest crypto selloff in history.
Image Credit: AI Generated
According to this Bangkok Business News report, more than 1.5 million traders were affected by the market collapse, with long (bullish) positions accounting for about 8 billion dollars in losses and short (bearish) positions making up the remainder. Bitcoin alone saw forced liquidations worth more than 1.3 billion dollars, while Ethereum’s losses reached 1.2 billion dollars. During the peak of the selloff, Bitcoin plummeted from over 122,000 dollars to below 102,000 dollars before staging a slight rebound.
The Biggest Crypto Liquidation in History
Experts are calling the dramatic selloff one of the largest liquidation events in cryptocurrency history. The chaos extended beyond major coins, triggering a domino effect that slashed the total crypto market capitalization by more than 9 percent to around 3.8 trillion dollars.
Some exchanges reported single liquidation orders worth tens of millions of dollars, highlighting the dangers of excessive leverage that continue to plague the crypto trading ecosystem. The crash was set off moments after Trump’s remarks about the tariffs and his cancellation of a planned meeting with Chinese President Xi Jinping. Markets briefly stabilized after he hinted at a potential reversal of the decision if China loosened restrictions on rare-earth exports by November.
Thailand’s Digital Asset Market Feels the Ripples
Though the upheaval originated in the U.S. and China, Thailand’s growing digital asset sector is also bracing for impact. The Thai market, which recently surpassed the one trillion baht valuation mark, has seen a decline in trading activity as investors adopt a wait-and-see approach.
The Thai government has recently rolled out incentives to strengthen investor confidence, including a five-year personal income tax exemption for profits generated from digital asset sales through licensed exchanges. The move is part of Thailand’s broader ambition to position itself as a digital finance and blockchain innovation hub, attracting global capital and legitimizing crypto trading within a well-regulated environment.
Volatility Highlights Fragile Foundations
This episode serves as a reminder of the fragile foundations of the crypto economy. Global political decisions and trade tensions can instantly wipe billions from the market, leaving even the most experienced traders vulnerable. High leverage continues to amplify risks, while unregulated exchanges face growing scrutiny from regulators worldwide.
As Thailand aims to balance innovation with investor protection, the recent turmoil reinforces the need for strong oversight and diversified market resilience. If the industry hopes to mature, it must evolve beyond speculative trading toward sustainable growth grounded in real-world value and transparency.
For the latest on the global cryptocurrency market, keep on logging to Bangkok Business News