Bitcoin (BTC‑USD) Slides After No‑Bailout Signal from Bessent
The Bitcoin market took a notable hit this week after U.S. Treasury Secretary Scott Bessent made it clear during a congressional hearing that the federal government does not have the authority or intention to bail out the cryptocurrency in the event of a market downturn. This message sent shockwaves through the crypto world and contributed to Bitcoin slipping below key support levels, reinforcing the asset’s reputation for volatility and investor‑driven price swings.
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