- No confirmed Bitcoin price drop linked to US Treasury.
- Janet Yellen remains Treasury Secretary, no “Bessent” involved.
- Rumor impacts dispelled, market stability maintained.
Bitcoin’s price remained unaffected provably, without any validated statements from U.S. officials regarding strategic reserve intentions.
With no verified links or official confirmation, Bitcoin’s reported drop to $117,000 lacks credible foundation, causing no dramatic market shifts or reactions.
Claims of Bitcoin plunging to $117K due to statements by a U.S. Treasury official have been discredited. Official sources show no price crash linked to any remarks from Secretary Janet Yellen or a nonexistent “Bessent” acting in her role.
Fake news spread involved fabricated statements allegedly by U.S. Treasury. Market data from trusted exchanges showed no unusual drops. Current Bitcoin value remains unaffected, and Yellen’s focus has been on ensuring economic stability and regulation, not manipulation. Janet Yellen, Secretary, U.S. Treasury, stated, “The recent failure of a major cryptocurrency exchange and the unfortunate impact that has resulted for holders and investors of crypto assets demonstrate the need for more effective oversight of cryptocurrency markets.”
The alleged Bitcoin crash did not occur, contradicting fake news narratives. No official statements corroborated the rumors, maintaining market confidence. Exchanges such as Coinbase and Binance showed regular trading activity without any significant shocks in Bitcoin pricing.
Impact of the false reports included brief public confusion but did not translate into widespread market disruption. Financial authority responses ensured clarity, with clarified positions by Janet Yellen emphasizing ongoing regulatory oversight rather than strategic reserves involving Bitcoin.
In light of these rumors, Bitcoin’s market held steady, with investors urged to check only verified data and updates from legitimate sources. The incident highlighted the susceptibility of markets to misinformation when unsupported claims emerge without backing from credible voices or verified platforms.
The episode underscores the necessity for rigorous verification processes before reacting to market rumors. Analysis shows that prior market responses indicate temporary impacts from unverified claims often fizzle with no substantial long-term effects when primary sources assure no basis in the reported news.
