As the cryptocurrency market continues to be under pressure, the Royal Government of Bhutan has lowered its bitcoin holdings to 5,600 BTC, or around $385 million. According to Arkham Intelligence data, the action comes after a string of on-chain transfers connected to government wallets.
The transfer of 100 BTC to QCP, according to recent data, has raised concerns about additional selling. Bhutan’s bitcoin holdings have decreased by about 60% in just four months, from a peak of 13,295 BTC in October 2025.
Even while not every transfer indicates direct sales, the market has taken notice of the consistent decline. The action is taken at a time when sentiment is still shaky overall and fear indicators are showing great caution. Even though Bitcoin has shown small signs of recovery, broader uncertainty continues to negatively impact investor confidence and government strategies alike.
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