🇧🇹 Bhutan is selling BTC, and the market is looking for a 'bottom': what is happening?

The Kingdom of Bhutan has already completed its second transaction this week. This time, through the market maker QCP Capital, assets worth $22.3 million have 'left' the crypto markets.

📉 The situation with Bhutan's state assets looks alarming for the 'bulls':

Reserves have halved: From a peak of 13,295 BTC in October 2024 to 5,700 BTC today.

Mining decline: If in 2023 the country mined 8,200 BTC, then in 2024 — only 3,000 BTC.

Loss of positions: Bhutan has dropped to 7th place in the ranking of countries by volume $BTC , yielding to the USA, China, the UK, Ukraine, El Salvador, and the UAE.

⚠️ Market background: Trump, tariffs, and depression

BTC is currently trading below $70,000, which is 42% less than the historical maximum of $126,080. Investor sentiment has fallen to the level of 'crypto winter' 2022.

Main reasons for the pressure:

Political uncertainty in the USA and delay in cryptocurrency legislation.

Tariff threats from Trump and geopolitics.

Risks of a decline in the US stock market.

Despite the negativity, analysts at Compass Point believe that we are in the final stage of the decline. The support zone of $60,000 – $68,000 could become the very foundation for a reversal.

#Bitcoin #BTC #Bhutan #MarketAnalysis