Bhutan Shifts BTC to Exchanges Amid $70K Prices; ARKHAM: 184 BTC Moved in 24H

The Royal Government of Bhutan has initiated a move of bitcoin holdings, sending over 184 BTC ($14 million) to trading firms, exchanges and new addresses in the past 24 hours as BTC fell to nearly $70,000 amid broader market volatility. Arkham onchain data shows transfers to entities including QCP Capital and a Binance hot wallet, with some coins flowing to fresh addresses. The activity, Bhutan’s first major wallet movement in about three months, reflects a shift from reserve storage to liquidity management during a selloff. Bitcoin fell over 7% in 24 hours, while silver dropped as much as 17% and global equities declined amid concerns that AI spending is pressuring traditional software revenue models. Bhutan, a rising sovereign bitcoin holder with holdings driven by state-backed mining, typically maintains low-profile wallet activity. These transfers do not confirm immediate selling but may indicate internal reshuffling or collateral management as holders treat BTC less as a static reserve and more as a balance-sheet tool during stress.