Treasury Rules Out Bitcoin Buys — Short-Term Pullback, Long-Term Hedge Intact

I see Bitcoin’s drop below $119K as a direct, short-term reaction to the Treasury signaling it will not purchase additional BTC for a strategic reserve.

The announcement removed a potential source of steady demand and likely triggered profit-taking after the intraday peak above $124K.

Still, the US will keep its seized Bitcoin and rising national debt supports the inflation-hedge narrative, so this looks like a policy-driven pullback rather than a structural bearish turn.