Bhutan Shifts 490 BTC to New Wallet as Bitcoin Extends Rally Above $75K
TLDR
- Bhutan transferred 490.87 BTC worth about $32.74 million to new wallets during Bitcoin’s latest rally.
- A previous 300 BTC transfer was sent to the same wallet earlier during the week.
- Bitcoin climbed above $75,000 after gaining nearly 20% during the week’s sharp market recovery.
- Analysts identified the $83,307 to $84,569 range as Bitcoin’s next major concentrated supply zone.
- Bitcoin futures open interest surpassed $56.93 billion as derivatives activity increased alongside the price rally.
The Royal Government of Bhutan transferred more than 490 Bitcoin to new wallets as BTC rallied above $75,000, drawing attention to the government’s latest movement of its crypto holdings.
Bhutan Government Moves 490 BTC to New Wallets
The Royal Government of Bhutan transferred 490.87 BTC from its primary wallet, with the assets valued at about $32.74 million at the time of the transaction. Onchain Lens tracked the transfer, including a single movement of 485 BTC worth roughly $32.31 million.
The transaction follows another transfer earlier this week involving 300 BTC, valued at about $19.3 million at the time. Both transfers went to the same wallet, which now holds more than 2,018 BTC valued at roughly $152 million, based on Arkham data.
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