Bhutan Bitcoin Sales: $900M commot near $98K average
On-chain data Wey EmberCN dey track talk say di Royal Government of Bhutan don sell about 9,180 BTC over roughly 11 months, make about $900 million. Di average sale price na about $98,067 per Bitcoin, and di divestments start proper around June 2025 afta state-backed mining stop.
Bhutan Bitcoin holdings don drop from peak near 12,200 BTC (early 2025) to about 3,021 BTC, worth around $234 million at current prices. Because dem scatter di liquidation across plenty transactions instead of one single “dump,” e likely reduce immediate market shock.
For traders, dis one mean continuing sell-side dynamic for Bitcoin. Watch on-chain outflows and exchange inflow data around any future government transaction batches, because persistent official selling fit add short-term volatility and “supply overhang” risk.
Bearish
Dis news show say one official sovereign holder dey still dey offload Bitcoin, weh normal dey create sell-side pressure. Di later article add fresher detail: about 9,180 BTC don sell over ~11 months wit average price near $98K, an di remaining holding dey about 3,021 BTC. Dat mean di liquidation process still dey go on and e never finish yet.
But di impact soft well by how dem dey execute am. If dem dey spread sales over plenty transactions ova long time e reduce di chance for sudden liquidity shock. Short term, traders suppose still expect say upside go face resistance an dem suppose watch for volatility spikes round new government batches. Long term, if official selling continue but no abrupt transfers to exchanges, market fit gradually reprice di supply overhang—reducing tail-risk versus one-off dump. Overall bias na bearish for BTC, but e no go catastrophic given di “smooth” timeline.