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Bitcoin tumbles 10% in wake of deepening China crackdown

Today 05:34Key points summarised by AI

Bitcoin plummeted almost 10%, reaching a 12-day low, as market jitters intensified due to China's expanding crackdown on cryptocurrency activities.
Chinese authorities ordered Bitcoin mining projects to close in Sichuan province and vowed to control financial risks associated with crypto mining and trading.
China's central bank urged major banks and payment institutions, including Agricultural Bank of China, to intensify efforts against illegal cryptocurrency transactions, further impacting market sentiment.
The regulatory pressure in China, a significant global Bitcoin producer, sparked fears that miners might offload their holdings, contributing to the sharp price decline for Bitcoin and other cryptocurrencies like Ether.

Today 12:14Key points summarised by AI

Cabinet approved new 2026–2029 contingency and strategic plans for the Oil Fuel Fund, enhancing the government's ability to manage volatile global energy prices and stabilize domestic fuel costs.
The plan revises intervention criteria, identifying three situations: significant price increases (e.g., diesel/petrol exceeding 30 baht/L), sharp price fluctuations (e.g., refined oil changing over US$10/barrel/week), or fuel shortages.
It prioritizes fuels blended with domestic biofuels to reduce reliance on imported crude oil, support local agriculture, and strengthen long-term energy security.
The new strategy separates Oil Fuel Fund accounts for oil and LPG, focusing on subsidizing diesel and LPG during prolonged crises while accumulating funds when global oil prices are low to build liquidity.