Bhutan Government Suspected of Selling 700 BTC
- Large-Scale Bitcoin Transfers: The Royal Government of Bhutan is suspected of transferring approximately 700 BTC, valued at about $50 million, through its sovereign investment arm, Druk Holding & Investments (DHI), indicating active participation in the cryptocurrency market.
- Transaction Details Revealed: Of the total, 325 BTC (approximately $25.19 million) was sent to a wallet linked to crypto financial services firm Galaxy Digital, while 375 BTC (around $25.18 million) was routed to an unidentified address, potentially an OTC desk or new custodian.
- Ongoing Bitcoin Selling Trend: Bhutan has reportedly sold over $84 million worth of Bitcoin in March 2026, highlighting a significant increase in state-level BTC distribution, possibly for portfolio rebalancing or funding state projects.
- Green Energy and Bitcoin Mining: Since 2019, Bhutan has leveraged hydropower for Bitcoin mining, effectively converting surplus renewable energy into a sovereign BTC reserve, aligning with its strategic goal of diversifying income, even as its BTC balance declines from over 13,000 BTC to the mid-4,000s.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC 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, BTC 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 $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 57779.274 | 61389.637 | 64805.364 | 68415.727 | 71831.454 | 75441.817 | 78857.544 |
| Fibonacci | 61389.637 | 64073.603 | 65731.761 | 68415.727 | 71099.693 | 72757.851 | 75441.817 |
About BTC
About the author
