Is Bhutan Govt. Selling Bitcoin? BTC Price Climbs to $71K Despite $11M Move

Key Insights

• The Bhutan government’s sovereign crypto holding address shifted over $11 million in Bitcoin.
• It sparked concerns of a selloff as witnessed after such movements since last year.
• Nonetheless, BTC price depicted strong momentum, surging beyond the critical $70,000 mark.

The Bhutan government seems to be offloading Bitcoin (BTC) as a $11 million transfer caught the market’s attention today. Regardless of this transfer, the Bitcoin price has stood its ground and now it has reclaimed the $71,000 level.

Is Bhutan Govt. Looking To Sell Bitcoin?

Recently, the blockchain analytics platform Arkham Intelligence identified a transaction of about 175 BTC, worth about $11.85 million, from a wallet address associated with Bhutan’s sovereign crypto holdings. According to the movement, the coins may be headed towards liquidity or a sale. This transaction follows a similar trend that started last year.

Instead of selling large amounts at a time, the country has transferred small batches of BTC, typically ranging from $5 million to $10 million. During a similar transfer approximately a month prior, Bhutan was recorded to transfer approximately $6.7 million worth of BTC to the trading firm QCP Capital.

Earlier, another transaction of $7 million Bitcoin was recorded, which supports the Bhutan government’s approach to sell BTC in small portions. On-chain transactions indicate that selling activity increased in mid-to-late September 2025, with several transactions related to its treasury wallets recorded. Analysts believe such periodic sales are likely part of a portfolio management approach rather than an emergency liquidation.

Interestingly, the Bhutan government’s offloading efforts stand in contrast to Michael Strategy’s aggressive accumulation strategy. Recently, the company has acquired 17,994 BTC which has increased its total reserves to 738,731 Bitcoin, one of the largest corporate treasuries of the digital currency. Such large-scale buying initiatives can tend to counteract government or institutional buying at the market.

Bitcoin Price Soars To $71,000

Despite Bhutan moving Bitcoin, but BTC’s market performance remained positive as it smashed the $71,000 level. At press time, BTC price was trading around $71,002.04, up 4.34% over the past 24 hours. It’s now holding above the psychologically critical $70,000 resistance area we reported. Market observers believe that this level is important since it sits just below the previous all-time high territory. A bullish burst may be provoked by a decisive breakout.

According to crypto analyst Michaël van de Poppe, the bullish divergence is still active BTC vs. Gold chart. The BTC/Gold pair shows a long-term decline, which means that over a period BTC has been losing relative strength in comparison to gold. However, the recent action is forming a descending wedge pattern with the price compressing toward a possible breakout point.

Simultaneously, the Relative Strength Index (RSI) on the upper panel is exhibiting bullish divergence: the indicator is recording higher lows as the price is registering lower lows. This trend is a common indicator of declining selling power and a trend reversal. The analyst signals that if the divergence plays out, Bitcoin could resume outperforming gold in the coming months.

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