The Royal Government of Bhutan transferred more than 1,000 BTC, valued at around $70 million, in the past week through its investment arm Druk Holding & Investments. This significant bitcoin sell-off is linked to funding the Gelephu Mindfulness City, a special economic zone aimed at attracting foreign investment and diversifying Bhutan's economy. Bhutan's bitcoin reserves have dropped from over 13,000 BTC in late 2024 to about 3,954 BTC now, marking a 66-70% decline. The government uses OTC channels to minimize market impact, but the large drawdown raises questions about fulfilling the original 10,000 BTC pledge for the project without additional mining or financing.
Veteran trader Peter Brandt has identified a potential "inverted head and shoulders" bottom pattern in Bitcoin's price, suggesting a possible shift in momentum. However, he cautions that the pattern is unconventional and not yet confirmed. Meanwhile,...
Ethereum rose 3.17% to $1,923.53, outperforming Bitcoin's modest 0.18% gain to $64,588.87, signaling an early rotation toward large-cap altcoins. Despite this, overall market activity slowed, with declines in DeFi, stablecoin, and derivatives trading...
Ether has surged about 11% over the past week, outperforming other major cryptocurrencies like Bitcoin, which rose 4%. This rise is driven by $96 million inflows into U.S. spot ether ETFs, mainly BlackRock’s low-fee funds, while Grayscale’s higher-fe...
Bitcoin's price surged to nearly $65,000 following softer-than-expected U.S. inflation data for June, easing fears of Federal Reserve rate hikes. However, on-chain data reveals two main groups of investors—long-term holders who bought near last year'...
Ethereum futures long positions among top traders increased by over 3 percentage points across both USDT- and coin-margined markets, indicating a broad-based shift in short-term sentiment. This rise suggests heightened attention on ETH compared to ot...
