According to Cointelegraph, U.S. Treasury Secretary Scott Bessent's unexpected appearance at the opening night of Pubkey, a newly opened Bitcoin-themed bar in Washington, D.C., has sparked a strong reaction within the Bitcoin community, with many seeing it as "a signal" for Bitcoin. Ben Werkman, Chief Investment Officer of Bitcoin Reserve Strive, posted on the X platform that the Treasury Secretary's attendance at the Pubkey DC launch was a moment that would seem "so obvious" in retrospect. Steven Lubka, Vice President of Investor Relations at Nakamoto, called it "the signal you've been waiting for." Scott Bessent is widely considered a pro-cryptocurrency figure. He garnered attention when he was nominated for Treasury Secretary in late 2024, having previously stated that the U.S. should strive to become a global hub for digital assets and supporting several cryptocurrency bills, including the GENIUS Act. Bessent clarified in August that his department is still exploring purchasing Bitcoin for strategic reserves in a budget-neutral manner. Scott Bessent's statement supporting Bitcoin comes at a time when bearish sentiment is spreading in the market. After reaching an all-time high of $125,100 on October 5, Bitcoin has entered a downtrend and was trading at approximately $85,500 at the time of the report.