Bhutan Moves 250 BTC as Bitcoin Climbs Above $74K

TLDR

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The Royal Government of Bhutan transferred 250 BTC worth about $18.47 million, within 24 hours.
Bhutan has moved 3,247 BTC in 2026, with total outflows valued near $240.4 million at current prices.
After the latest transfers, Bhutan holds about 3,524 BTC worth between $260 million and $264 million.
Bitcoin climbed to an intraday high of $76,038 before easing toward the $74,000 range.
Glassnode identified resistance between $74,000 and $76,000, while CryptoQuant placed key levels near $76,800.

The Royal Government of Bhutan transferred about 250 BTC worth $18.47 million within 24 hours. Arkham data showed 162 BTC and 69.7 BTC moved to new wallet addresses in quick succession. The transactions came as Bitcoin traded above $74,000 and tested resistance levels.

Bhutan Extends Bitcoin Sales as Treasury Activity Continues

Arkham data confirmed that Bhutan shifted 162 BTC and 69.7 BTC to fresh addresses within hours. The transfers formed part of a wider reduction in publicly tracked holdings. Bhutan has moved 3,247 BTC in 2026, with total outflows valued near $240.4 million at current prices.

Other pricing periods placed the yearly sales closer to $198 million. After the latest transfers, Bhutan wallets hold about 3,524 BTC worth between $260 million and $264 million. Analysts linked earlier movements to wallets that later routed funds to Galaxy Digital and OKX.

Arkham reported that no Bitcoin inflow above $100,000 reached Bhutan-linked wallets in over a year. That data drew attention to possible shifts in mining operations or liquidity priorities. Bhutan originally built much of its reserve through hydropower-backed mining using surplus national energy.

On-chain records showed reduced inflows and continued outflows across tracked addresses. The pattern matched earlier sequences where funds moved in structured batches. However, blockchain data has not confirmed the final destination of the newest transfers.

Bitcoin Price Tests Resistance as Market Metrics Shift

Bitcoin price climbed to an intraday high of $76,038 earlier this week before easing toward $74,000. Glassnode said the market is moving through a resistance band between $74,000 and $76,000. CryptoQuant identified $76,800 as the “Traders’ Realized Price” level.

CryptoQuant stated that holders who bought between $65,000 and $76,000 now sit in profit. The firm reported that large deposits rose from under 10% to above 40% of exchange inflows. The shift pointed to heavier activity from larger holders within days.

Daily realized profits reached about $500 million on Wednesday. However, that figure remained below the $1 billion level often seen near local tops. Market data showed Bitcoin trading in the mid-$74,000 range during the latest session.

Mining economics also shifted as prices recovered in recent days. The average all-in production cost stood near $79,500 per BTC as of mid-Wednesday. The gap between cost and spot price narrowed compared to previous months.

The next network difficulty adjustment is scheduled for April 17. Forecasts projected a decline of nearly 3%, which would bring difficulty below 135 trillion hashes. Reports also showed the network hash rate fell 4% during the first quarter of 2026.

Some operators shut down older machines due to unprofitable conditions. Other miners redirected resources toward AI and high-performance computing services. The difficulty adjustment estimate remained the latest scheduled network update.

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