In today's crypto market, Bitcoin fell below $119,000 following remarks from US Treasury Secretary Scott Bessent, who confirmed that the government would not be purchasing additional Bitcoin for its reserves. The cryptocurrency was priced at $118,730 after reaching a record high of over $124,000 earlier on Thursday. Bessent's comments contradicted an earlier executive order from President Donald Trump aimed at increasing Bitcoin holdings through budget-neutral strategies. Bitcoin's significant drop occurred after its brief surge when it became the fifth-largest global asset. In another development, Samson Mow speculated on Bitcoin's price trajectory, suggesting it could either surge or face a pullback depending on trader behavior with altcoins. Additionally, Google Play announced new licensing rules for crypto wallet providers, affecting registration processes in the US and EU while exempting non-custodial wallets. The changes, taking effect on October 29, aim to establish regulatory compliance for wallet developers in various jurisdictions.

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