Bitcoin News: Bhutan Government Shifts 700 BTC To Binance After Price Rebound

Key Insights:

• Bhutan-linked wallets moved 700 BTC worth about $43.75M to Binance.
• Bitcoin news: Bhutan still holds about 1,750 BTC, valued near $109.27M after the transfers.
• Bitcoin’s rebound followed weak June U.S. jobs data, raising rate-cut expectations across markets.

Bhutan government-linked wallets moved 700 Bitcoin to Binance after BTC recovered above $62,000 on Saturday. The transfer carried a value of about $43.75 million, based on Bitcoin’s price near $62,500. Traders tracked the move because large exchange deposits often raise questions about possible selling. The wallets still hold about 1,750 BTC after the latest activity. The move came as investors watched sovereign Bitcoin reserves.

Bitcoin News: Bhutan-Linked Wallets Send 700 BTC To Binance

Arkham Intelligence noted the wallets belonged to the Royal Government of Bhutan. Blockchain data showed two transfers from those wallets to the same Binance deposit address. The larger transaction moved 634 BTC, worth about $39.6 million. A smaller transfer sent 66 BTC, valued at nearly $4.12 million.

The Bitcoin news brought the total movement to 700 BTC. Large holders often move coins to exchanges before sales. They can also use exchange wallets for liquidity, custody, OTC trades, or treasury management. The destination wallet drew attention because both transfers reached the same Binance address.

Bhutan Holds About 1,750 BTC After Latest Transfer

Bhutan-linked wallets still hold around 1,750 BTC after sending the latest amount to Binance. That remaining balance is valued at approximately $109.27 million, based on the reported market price. The country remains one of the most-watched sovereign Bitcoin holders because its holdings came from state-linked mining activity.

Earlier Bhutan-related wallet movements also drew attention from on-chain analysts. Previous transactions included 364.984 BTC, worth about $22.26 million, and 188.558 BTC, worth about $11.47 million. Another movement involved 150.458 BTC worth about $9.14 million. Those transfers formed part of a larger 1,095 BTC movement worth over $67 million at the time. The latest activity adds another entry to Bhutan’s recent exchange transfer history.

In May 2026, Bhutan remained in focus after cutting its Bitcoin holdings through large OTC-linked sales. The government-linked wallets had sold over $215 million in BTC during the year.

Bitcoin Price Rebounds Above $62,000

According to data, BTC gained 4.2% in the last 7 days, trading near $62,891.58. Its market cap stood at $1.26 trillion, while 24-hour volume fell 24.83% to $17.51 billion. BTC recovered after buyers defended the $58,000 area during recent market weakness. Traders watch that zone as short-term support. A steady hold above it can keep attention on the $62,000 range.

The price recovery followed fresh U.S. labor market data. The U.S. economy added 57,000 jobs in June, below expectations of 115,000. The May jobs figure also saw a downward revision of 43,000. The unemployment rate came in at 4.2%, below the 4.3% forecast.

Softer jobs data supported hopes for easier monetary conditions. Crypto traders often respond to rate expectations because liquidity shapes demand for risk assets.

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