#MarketTurbulence Bitcoin fell below USD 118,000 on Thursday as investors processed comments from U.S. Treasury Secretary Scott Bessent, who stated that the government had no plans to make additional purchases for its Strategic Bitcoin Reserve and its separate digital asset reserve.

Bessent retracted his statement hours later, clarifying that his department was still exploring neutral ways for the budget to acquire BTC for the Strategic Bitcoin Reserve.

"The Treasury is committed to exploring neutral avenues for the budget in order to acquire more Bitcoin to expand the reserve and fulfill the president's promise to make the United States the 'world superpower of Bitcoin,'" Bessent wrote in a post on X on Thursday.