Recent transactions in the cryptocurrency world have drawn significant attention, including moves from the Bhutan government and major actions by BlackRock.
Bhutan's Transfer: 517 BTC in New Wallet
The Royal Government of Bhutan has transferred a total of 517 BTC, valued at approximately $59.23 million, to a new wallet. Blockchain analytics show this movement occurred within the last few hours, with 337 BTC and 180 BTC sent in two separate transactions. These funds are now linked to a wallet address believed to be associated with the Binance platform.
Major Transaction by BlackRock on Coinbase
BlackRock initiated a significant cryptocurrency transfer to Coinbase, depositing approximately 101,975 ETH and 2,544 BTC, totaling around $664 million. These transfers reflect a structured institutional deposit strategy rather than sporadic asset movement.
Bearish Pressure on Bitcoin Price
Bitcoin price is currently trading at $112,860, facing downward pressure after a failed attempt to break above the $115,000 resistance level. Indicators such as RSI and MACD suggest a potential continuation of the bearish trend, adding uncertainty for investors.
Overall, recent movements in the cryptocurrency market indicate significant strategic decisions, alongside pressure on the value of Bitcoin, making the situation more complex for investors and analysts.
