Bhutan Government Moves 319.7 BTC to Two Wallets

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Apr 09 2026

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Significant Transfer: The Royal Government of Bhutan moved 319.7 BTC, valued at approximately $22.67 million, to two wallets in a single on-chain transaction, indicating active participation in the cryptocurrency space that could influence market confidence.
Transaction Details: The input for this transaction was 31,970,678,799 sats, split into two outputs of 24,999,990,000 sats and 6,970,688,304 sats, with a network fee of 495 sats, suggesting a routine transfer rather than a market sale.
Wallet Address Analysis: One of the destination addresses is suspected to be an exchange wallet, while the other has prior associations with OKX or Galaxy Digital; although hard evidence is lacking, this could shape market perceptions of Bhutan's crypto assets.
Market Reaction Monitoring: At the time of the transfer, Bitcoin was trading near $70,982, with market sentiment leaning towards extreme fear, indicating that subsequent wallet activities will be crucial for market impact, prompting investors to closely monitor follow-up developments.

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Technical Analysis for IMX

Technical Sentiment Analysis for Immutable (IMX). As of , Immutable (IMX) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 5 indicators are flashing buy, while 1 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for IMX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, IMX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Immutable (IMX) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0997	0.118	0.137	0.156	0.175	0.193	0.212
Fibonacci	0.118	0.133	0.142	0.156	0.17	0.179	0.193

About IMX

Immutable positions itself as the first layer-two scaling solution for NFTs on Ethereum. According to Immutable, its blockchain does away with Ethereum’s limitations like low scalability, a poor user experience, illiquidity, and a slow developer experience. Instead, users benefit from instant trading and massive scalability while enjoying zero gas fees for minting and trading NFTs without compromising user or asset security.Thanks to this technology, users will be able to create and distribute assets like ERC-20 and ERC-721 tokens on a massive scale. Chris Clay, the game Director of Gods Unchained, a project already building on Immutable, stated that Immutable allows Gods Unchained to implement a new meta-system that was previously impossible. In this fashion, Immutable aims to create a world-class experience for users and developers alike.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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