Bitcoin drops below $119K after US Treasury secretary rules out new BTC purchases
Bitcoin fell below $119,000 on Thursday after US Treasury Secretary Scott Bessent said the government will not make new BTC purchases to fund a Bitcoin reserve.
Bitcoin dropped under a key support level Thursday after US Treasury Secretary Scott Bessent said the government has no plans to make additional purchases of more Bitcoin for its Bitcoin and digital asset reserve.
Bitcoin (BTC) fell below the $120,000 psychological support level on Thursday and traded at $118,730 at the time of writing, Cointelegraph data shows.
The decline followed Bessent’s comments in an interview with Fox Business, where he confirmed the government would not buy more Bitcoin.
