The post Bhutan Transfers $22M in Bitcoin Amid Market Downturn appeared on BitcoinEthereumNews.com.

In brief Bhutan transferred $22.4 million in Bitcoin over the past week, with transactions sent to Singapore-based market maker QCP Capital. The outflows included 184.03 BTC worth $14.09 million on Wednesday and 100.82 BTC valued at $8.31 million five days earlier, according to Arkham Intelligence. Analysts suggest the transactions may involve structured products rather than outright selling, as the amounts are smaller than Bhutan’s typical $50 million liquidation tranches. Bhutan moved Bitcoin holdings to institutional market makers as the crypto market extended losses, though analysts say the transfers align with the kingdom’s established treasury operations rather than distressed selling. Blockchain analytics platform Arkham confirmed two major outflows from Druk Holding Investments (DHI), Bhutan’s sovereign investment arm, over the past week. The transactions included 184.03 BTC worth $14.09 million on Wednesday and 100.82 BTC valued at $8.31 million five days earlier, with the latter sent directly to labeled addresses tied to Singapore-based crypto asset trading firm QCP Capital. “I would think it’s a routine operation. The amount is not particularly big,” Peter Chung, head of research at Presto Research, told Decrypt. “If this transfer happened any other time (when the market is not down so much), it probably wouldn’t receive this kinda attention.” The transfers occurred as Bitcoin fell below $72,000 for the first time since November 2024. BTC is currently trading at $71,299, down 6.1% on the day and nearly 44% from its October 2025 all-time high of $126,080, according to CoinGecko data. On Myriad, a prediction platform owned by Decrypt’s parent company Dastan, users currently price in an 89% chance of Bitcoin dropping to $69,000 ahead of any rally to $100,000. “The current volatility reflects broader macro sensitivity rather than any crypto-specific weakness,” Akshat Siddhant, Lead Quant Analyst at Mudrex, told Decrypt. “Geopolitical tensions between the U.S. and Iran…

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Filed under: News - @ February 5, 2026 10:25 am