Today, the exchange rate $BTC fell below $119,000 after U.S. Treasury Secretary Scott Bessent stated that the government would not be making new BTC purchases to fund the Bitcoin reserve.
At the time of writing, Bitcoin had fallen below the psychological support level of $120,000 and was trading at $118,730, a few hours after it had earlier reached an all-time high of $124,457 on Thursday.
The decline followed comments from Bessent in an interview with Fox Business, where he confirmed that the government would not be buying more bitcoins.
"We will stop selling. I believe that the Bitcoin reserve at today's prices is somewhere between $15 billion to $20 billion."
Following Bitcoin, there was a crash in cryptocurrency.
IN JUST A FEW MINUTES, more than $100,000,000,000 disappeared from the cryptocurrency market capitalization.
What's next?
Do not panic, the market is consolidating in the near future, the main thing is not to sell at a loss for fear of losing more!
Just watching......
#bitcoin #Ethereum #altcoins #Binance