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Bitcoin plunged after the US Treasury Secretary Scott Bessent, excluded government purchases for the Bitcoin Strategic Reserve, causing more than a billion dollars in cryptographic liquidations – then he went back.
During a Fox commercial interview, Bessent initially declared that the Treasury would not buy Bitcoin for its strategic reserve, sending Bitcoin to a 24 -hour $ 117,254.
“We also started to enter the 21st century, a bitcoin reserve,” said Bessent during an interview with Fox Business. “”We are not going to buy this, but we will use confiscated assets and continue to develop this. »»
Long positions on Bitcoin and Ethereum were the hardest affected, destroying more than $ 500 million combined.
The feeling was already vulnerable after inflation of the production price index (PPI) warmer than expected. WThesal prices climbed into a snack of 0.9% in July, well above analysts estimates, which made it possible to fear that a drop in potential interest rate will be postponed.
Then came the clarification of Bessent on x
“The Treasury undertakes to exploreAnd to execute the president’s promise to make in the United States the “bitcoin superpower of the world”, “He said, sending Bitcoin over $ 119,000.
Bitcoin which was finally confiscated from the federal government will be the basis of the Bitcoin Strategic Reserve that President Trump created in his March decree.
In addition, the Treasury undertakes to explore budgetary neutral routes to acquire more …
– The secretary of the Treasury Scott Bessent (@sescottbessent) August 14, 2025
Senator Cynthia Lummis, defender of the Bitcoin Strategic Reserve, argued the clarification of Bessent, proposing that the United States could reassess its gold reserves to finance a new accumulation of Bitcoin.
“We cannot save our 37 T $ debt country by buying more bitcoin, but we can reassess the gold reserves to today’s prices and transfer the increase in value to build SBR,” she said.
Bitcoin’s critic, Peter Schiff, has rejected, warning that such a decision may require the impression of more dollars, potentially feeding inflation.
“There is no increased value,” he said on X. “Additional money should be printed by the Fed. We don’t need to create more inflation to buy Bitcoin.”
Bitcoin down more than 2%
Bitcoin was able to recover slightly after diving at a 24 -hour low of $ 117,254.88 and is negotiated at $ 118,796.35 at 1:50 am, data Coinmarketcap shows.
Despite the rebound, the main crypto is still down more than 2% in the last 24 hours. He also dropped more than 4% since the implementation of his new ATH at $ 124,457.12 yesterday.
Bitcoin Price That (Source: Coinmarketcap))
The share of the liquidation lion of $ 1 billion came from long positions, with more than $ 850 million which was destroyed from these upspurrent bets,, according to in Coréglass.
The long positions for the BTC and Ethereum (ETH) cryptographic market leader took the greatest blow. Coinglass data show that around 344.22 million dollars have been liquidated from the long ethn, while $ 171.96 million was wiped up bruised bets for the BTC.
The feeling in the crypto market has also taken a substantial blow, as shown in the decrease of 15 points Index for fear of crypto and greed experienced in the past 24 hours.
Currently at a “greed” score of 60, the index reached the levels seen for the last time at the beginning of the month when there was an uncertainty around Trump’s price deadline for business partners and potential ramifications.
The rest of the 10 largest cryptos by market capitalization also remains in the red over the period 24 hours a day. XRP gains from the conclusion of the Ripple trial of the years with the Securities and Exchange Commission (SEC) have been reduced, Altcoin is now down by more than 3%.
Binance Coin (BNB) is in the red by a percentage fraction, but is still up more than 8% on the long -term weekly time after recently achieved a new ATH.
Meanwhile, Solana (soil), Dogecoin (Doge), Tron (TRX) and Cardano (ADA) are down 3%, 5%, 2%and 2%, respectively.
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