Overview
- Arkham-tracked wallets linked to Bhutan moved more than 184 BTC in the past 24 hours after a roughly three-month lull, with a separate 100.8 BTC transfer recorded five days earlier.
- Some coins went to new addresses while others were routed to counterparties including QCP Capital and a Binance hot wallet, suggesting trading or liquidity management activity.
- Reporting and blockchain data show no sustained rise in exchange inflows tied to these wallets, and the transfers do not confirm outright selling.
- Arkham estimates Bhutan’s sovereign holdings at roughly 5,700 BTC, with Bitcoin still comprising the vast majority of its tracked crypto portfolio value.
- The renewed wallet activity coincided with a sharp market slide, as Bitcoin fell below $71,000 and volatility increased across risk assets.