Key Insights:
- The Bhutan government has made headlines in the Bitcoin news column with its recent transfer of 343.1 BTC to a new wallet.
- Transfer continues the pattern of strategic BTC sales during Bitcoin price peaks.
- Bhutan now holds over 10,500 BTC valued at $1.18 billion as the sixth-largest sovereign holder.
In the latest Bitcoin news, Bhutan has made headlines with its recent move. According to the latest data, the Royal Government transferred 343.1 BTC, valued at $40.18 million, to a new wallet on September 18.
The movement follows a consistent pattern of strategic Bitcoin management throughout 2025. Besides, it has also sparked concerns over a potential Bitcoin selloff in the coming days.
Bitcoin News: Bhutan Transfers 343 BTC
The Royal Government of Bhutan has moved 343.1 BTC valued at approximately $40.18 million into a new wallet address, according to Arkham data.
The transfer continues Bhutan’s active Bitcoin management strategy observed throughout 2025. Onchain Lens noted the likelihood of exchange deposits based on previous transfer patterns.
The September 18 movement is the latest in a series of strategic Bitcoin transfers from Bhutan’s sovereign reserves.
Besides, this has also made headlines in the Bitcoin news column, sparking discussions over a potential selloff.
Meanwhile, previous transfers have consistently preceded exchange deposits and created selling pressure in Bitcoin markets.
Besides, Bhutan maintains approximately 10,500 BTC valued at around $1.18 billion as of September 2025. This positions the kingdom as the sixth-largest government Bitcoin holder globally.
However, these massive holdings have also fueled concerns. For context, if the country goes on a selling spree, it could weigh on the broader market sentiment, potentially creating a hurdle in the BTC USD rally.
The Bitcoin holdings represent roughly 40% of Bhutan’s GDP and make the cryptocurrency a substantial component of national wealth.
The government’s July transfers happened when Bitcoin price reached record highs near $113,500. In addition, August movements coincided with BTC USD touching $124,500.
Recent BTC USD Transfer Activity Shows Consistent Selling
Bitcoin news from August shows intensive transfer activity with 799.69 BTC worth $92.06 million moved into two new wallets on August 18.
The transfers were likely targeted Binance exchange based on wallet analysis. Earlier August activity included 517 BTC movements worth approximately $59 million to the Cobo Hot Wallet.
July 2025 marked peak selling activity with 512.84 BTC USD, worth $59.47 million, sold through six separate Binance transfers.
The July 10-14 period showed concentrated selling during Bitcoin price rally above $110,000. Additional July transfers included 213.31 BTC worth $23.7 million to Binance on July 10.
Meanwhile, June concluded with 137.245 BTC worth $14.77 million transferred to Binance on June 30. Binance appears as the preferred destination for Bhutan’s Bitcoin liquidations based on transaction patterns.
Bhutan Emerges as Major Sovereign Bitcoin Player
Bitcoin news highlighting Bhutan’s cryptocurrency journey began in April 2019, when BTC USD traded around $5,000.
Druk Holding & Investments, the country’s sovereign investment arm, spearheaded the mining initiative. The first Bitcoin mining rewards arrived in February 2021, with 0.0267 BTC received.
Large-scale mining infrastructure construction commenced around December 2021 with $193 million in processing unit imports.
Partnership with Bitdeer Technologies in May 2023 expanded capacity to 600 megawatts. Bhutan’s hydroelectric power advantage provides cheap energy for Bitcoin mining operations.
Where is Bitcoin Price Headed Next?
BTC price today traded over $117k during writing, with gains of around 1% in the last 24 hours.
Notably, the surge over $117k has fueled market optimism, especially after the latest 25 bps Fed rate cut on September 17.
Amid this, analyst Rekt Capital has shared concerning signals from the Bitcoin Pi cycle indicator that historically predicted bull market peaks through moving average crossovers.
The analysis reveals diverging rather than converging moving averages. This suggests that this cycle may break historical patterns.
The 111-day moving average for BTC price currently sits around $111,000, and the green moving average reaches approximately $200,000.
Historical BTC cycles showed overextensions beyond the green moving average before pi cycle crossovers signaled market peaks.
This cycle shows a different behavior with Bitcoin price rejecting the green moving average in 2024. The pattern suggests market maturation, reducing extreme price movements compared to previous cycles.
Previous cycles peaked 518 days after halving in 2017 and 550 days in 2021, suggesting mid-October to mid-November targets for 2025.
Extended cycle scenarios could push peaks to late December and also preserve four-year cycle tendencies.
Rekt Capital warns that the BTC USD pi cycle crossover may not happen this cycle. This removes a historically reliable exit signal for Bitcoin traders.
This development forces traders to rely on alternative indicators for market timing as traditional signals may prove unreliable.