Bhutan move 250 BTC for 24h, reserves drop as people dey fear say dem go sell
On-chain data dey show say Bhutan don move total 250 BTC inside 24 hours (about $18.46m). Arkham data show two quick transactions: 162 BTC and 69.7 BTC. After the outflows, Bhutan wallets dey hold about 3,524 BTC, sharp fall from late-2024 peak near 13,000 BTC.
The timing don bring back "Bhutan bitcoin" sell-side gbege. Earlier moves bin link to Galaxy Digital and OKX, but the latest tranche no confirm as exchange deposit. Lack of major inflows into Bhutan official wallets (over $100,000) for more than one year dey also cause debate about slower mining or change of strategy.
Market context still tense near resistance. Glassnode flag BTC resistance for $74,000–$76,000 band. CryptoQuant note sey share of large transfers going to exchanges don rise from below 10% to nearly 40% in few days, while realized daily profits near $500m. Mining economics still stressed, with reported all-in costs around $79,500 and forecast ~3% difficulty drop on April 17, plus ~4% hash-rate decline in Q1 2026.
For traders, repeated Bhutan bitcoin outflows dey increase short-term supply-overhang risk as BTC dey test resistance.
Bearish
Dis news fit likely make BTC go down short-term because e bring back worry say supply too much. Bhutan run 250 BTC comot for 24 hours reduce dem reserve and, based on how similar transfers for past dey usually connect to platforms, e fit mean say dem dey sell again—especially as BTC dey test clear on-chain resistance (about $74k–$76k).
Even though dem never confirm say the latest transfer land for exchange, the quick timing and bigger indicators (increase in share of large transfers to exchanges, high realized profits, and miner stress with costs above spot) show market liquidity and ability to absorb sells fit hard. The possible ~3% difficulty drop and recent hash-rate decline fit support medium-term view, but them no likely strong enough to cancel the near-term distribution risk wey Bhutan bitcoin treasury withdrawals dey signal.