Bitcoin Plummets Following US Treasury Secretary's Remarks: Losses Reach 40%

No Signal of Support for Crypto Assets from Treasury Bitcoin, the world's largest cryptocurrency, faced intense selling pressure and fell to its lowest levels since November 2024 following statements by U.S.
Treasury Secretary Scott Bessent.
Speaking before the House Financial Services Committee, Bessent emphasized that the Treasury Department does not have the authority to purchase digital assets or provide bailouts in the event of a potential crisis.
Following these remarks, Bitcoin retreated to the $70,000 level as of early February, marking its lowest performance in recent months.
40 Percent Loss from the Peak Total losses in Bitcoin have exceeded 40 percent since reaching record levels in October.
This market decline is being closely monitored by institutional investors and market analysts.
Renowned investor Michael Burry warned that the decline could deepen, stating that companies that have made large Bitcoin purchases over the past year could face permanent financial damage.
Bitcoin is a purely speculative asset; unlike gold and other precious metals, cryptocurrencies do not possess the characteristics of a safe haven against value losses.
Market Capitalization Falls to $2.4 Trillion According to current data, Bitcoin is trading at the $70,900 level, with a daily decline of approximately 7 percent.
The total volume of the cryptocurrency market has decreased by 6.5 percent, falling to the $2.4 trillion level.
Investors continue to await new regulation signals from the U.S.
and upcoming macroeconomic data.