Bitcoin's price dropped 3.5% following a statement from U.S. Treasury Secretary Bessent, indicating that the government will not provide bailouts for cryptocurrencies during financial distress. This announcement has heightened market uncertainty, leading to significant fluctuations in Bitcoin and XRP prices. The Treasury's stance has sparked concerns among investors about the lack of government support, contributing to Bitcoin reaching its lowest level since November 2024. The market's reaction underscores the sensitivity of cryptocurrency valuations to regulatory signals and economic policy shifts, with XRP also experiencing a sharp decline of over 7%.