Bitcoin plunges below $20,000

21 Sept 02:48 Key points summarised by AI

Bitcoin plummeted below $20,000, marking its lowest price since December 2020 and a 72% drop from its November 2021 peak.
The crypto market's sharp decline is driven by investor fears of a global recession, fueled by central banks' inflation-fighting interest rate hikes.
Major crypto platforms like Celsius Network and Babel Finance suspended withdrawals due to 'extreme market conditions' and 'liquidity pressures,' further accelerating Bitcoin's fall.
The broader crypto market cap fell below $1 trillion, with companies like Coinbase announcing significant job cuts, signaling a shift from a period of easy money to tighter monetary policies globally.

Government to start building Chainat-Pasak-Gulf water diversion canal next year

Today 14:58 Key points summarised by AI

Thailand's government will launch the "Chainat-Pasak-Gulf" water diversion canal project in fiscal year 2027, a seven-year mega-infrastructure initiative.
This permanent structural solution aims to mitigate recurrent central plains flooding by diverting water from the Chao Phraya River directly into the Gulf of Thailand, significantly reducing flow to major cities like Ayutthaya and Bangkok.
Prime Minister Anutin Charnvirakul justifies the long-term investment as a means to reduce future damages and fiscal burdens, contrasting it with the 40-50 billion baht spent annually on short-term flood relief.
Concurrently, the Prime Minister instructed officials to expand drainage capacity into the Tha Chin River and swiftly remove water hyacinths to improve immediate flood management.