🚹 Bitcoin Falls Below $119K After US Treasury Rules Out New Purchases 🚹

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Bitcoin slipped under the $120K psychological support on Thursday, hitting $118,730, just hours after reaching a new ATH of $124,457.

The drop came after US Treasury Secretary Scott Bessent confirmed the government will not buy additional BTC for its strategic reserve — though it will keep building holdings from confiscated assets.

đŸ”č Key Points:

No new BTC buys, but the US will stop selling existing holdings (worth $15B–$20B).

Trump’s March executive order created a strategic BTC reserve and digital asset stockpile.

Earlier this year, the US explored funding BTC buys via tariffs and gold certificate revaluation.

Despite the dip, rising US debt above $37T could fuel long-term BTC demand as a hedge.

📊 BTC briefly flipped Google’s market cap earlier in the day before sentiment cooled.

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