Thailand Clamps Down on Crypto Exchanges as Bitcoin Consolidates above $105K

After Thailand announced plans to block and pursue legal action against cryptocurrency exchanges such as Bybit, OKX, XT, 1000X, and CoinEx for operating without proper licensing, the regulatory environment appears to be tightening significantly in the region. In Panama, the mayor has proposed a novel method for the courts to pay for the Panama Canal tolls using Bitcoin, bypassing traditional queues, which hints at increasing institutional acceptance and innovation in cryptocurrency usage. Meanwhile, China's Webus International is preparing to raise $300 million to establish a reserve in XRP dedicated to cross-border transactions, emphasizing the growing interest in Ripple's digital assets for international finance. In the United States, Twenty One Capital led by Jack Mullers has attracted $100 million to boost its Bitcoin holdings, indicating ongoing institutional investment. Similarly, Canada’s Sol Strategies added an extra 26,500 SOL tokens, increasing their reserves to 420,000 SOL, showing confidence in Solana’s ecosystem. Cantor Fitzgerald's launch of a Bitcoin fund backed by gold collateral introduces a new safeguard measure for investors seeking exposure to Bitcoin. Additionally, the UK’s Reform UK party announced it would accept cryptocurrency donations, reflecting growing political recognition of digital assets. Market dynamics reveal Bitcoin surpassing $105,000 and now consolidating, with the fear and greed index at 60, suggesting a state of greed but not extreme. The TVL in DeFi increased by 24.5% over the past month, indicating expanding decentralized finance activity. In the past 24 hours, approximately $656 million in positions were liquidated, predominantly long positions worth about $594 million, with James Winn losing roughly $100 million on 949 BTC, highlighting significant volatility. Today’s notable event is the expiring options on BTC and ETH on Deribit, with open interest over $11 billion. The key levels are a $100,000 open interest for BTC and $2,300 for ETH, indicating anticipated market sensitivity around these figures.