Bhutan's 300-BTC Transfer Stirs Market as BTC Nears $65K Resistance

The Royal Government of Bhutan transferred 300 BTC worth approximately $19.3 million to a new wallet.

This move does not confirm a sale, as government-linked wallets frequently transfer assets for custody or internal management purposes.

Traders closely monitor such activity due to previous instances where large transfers sent Bitcoin toward exchanges.

The current price of BTC is near the $65,000 resistance zone, with on-chain analyst Ali Martinez identifying $63,111 as a major cost-basis level for holders.

VanEck researchers note that eight of 12 Bitcoin capitulation signals are flashing, indicating a possible transition into an accumulation phase.