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BlockBeats News: On July 25th, the armed conflict on the border between Thailand and Cambodia escalated, with Thailand deploying F-16 fighter jets to bomb and Cambodia resorting to the United Nations. The war has raised concerns in the global market about the stability of the Southeast Asian supply chain. Amidst escalating diplomatic tensions, risk aversion in Asian markets has risen, with funds flowing towards gold and the US dollar. There are signs of hedging outflows in the cryptocurrency market. The BTC price has fallen below the recent strong support zone of $115000. From the perspective of liquidation density, the upper $120000~121500 is a significant pressure wall. BitUnix analysts suggest: Geopolitical events have led to a deterioration in short-term market risk appetite, and if BTC cannot quickly recover to 115000, it is prone to a second dip or even a downward trend of 112300. The operational strategy is advisable to adopt a wait-and-see approach. If the rebound volume is insufficient, the bears have the momentum to continue attacking. It is recommended to pay attention to the market's response to Southeast Asian geopolitical news. If the VIX index continues to rise, it may continue to generate safe haven selling pressure, and leverage and risk exposure should be strictly controlled.