Bhutan's Royal Government Makes Another Crypto Move Worth $27.93 Million
Bhutan's Royal Government has made another significant move in the crypto space. On August 7, 2026, they transferred a substantial amount of Bitcoin (BTC), worth $27.93 million, marking their first on-chain activity in over a month.
This transfer adds to the ongoing BTC whale movements tracked through BTC on-chain analysis. The current price of Bitcoin sits at $64,823.13 within its Bollinger Band, with upper resistance at $65,080.36 and lower support at $63,874.79.
The technical indicators, such as the 50-Exponential Moving Average (EMA) at $64,157.26 and the 200-EMA at $63,658.7, continue to anchor a bullish trend in the market. The Moving Average Convergence Divergence (MACD) holds a golden cross at 262.41, while the Relative Strength Index (RSI) stands at 59.41, indicating room for further growth before reaching overbought conditions.
The article suggests that if Bitcoin tests its upper-band resistance, it may trigger short-term volatility exhaustion and pull the price toward the 50-EMA confluence before any potential continuation higher in the market.