Bhutan moved 175 BTC ($11.85M) late Monday, bringing 2026 outflows to $42.5M. Its bitcoin hoard, once 13,000 BTC, now sits at ~5,400 BTC — a 58% drop. All sales are profit, sourced from zero-cost hydro mining.
Arkham data shows Bhutan-linked wallets moved 973 BTC worth about $72.3 million in two days, while additional transfers to unidentified addresses lifted the country’s year-to-date bitcoin repositioning above $110 million.
Bitcoin plunged below $62,000, wiping $31 billion from the crypto market. Asian equity markets also saw heavy selloffs, with South Korea's KOSPI falling 10% and Japan's Nikkei 225 dropping nearly 4%. Analysts flag potential drop to $54,000 while options market stays calm.
On-chain data shows Bhutan's wallets moved $37.75M BTC, partly to a QCP Capital-linked address. Bhutan's holdings have fallen from ~13K BTC to 4,453 BTC. The market remains calm with BTC above $71K.
On July 23, S&P 500 call options notional volume surged to $2.6 trillion—60% of total options activity and nearly matching the entire crypto market cap. The risk-on spillover could boost Bitcoin, but Goldman Sachs flagged “semi-irrational chasing mode,” warning of crowded trades.
Bitcoin jumped above $71,000 after a conditional two-week ceasefire between the US and Iran. QCP Capital warns this is a 'pause, not peace,' with options skew deepening and strong put demand. Key tests ahead: CPI data and diplomatic progress.
Institutional crypto trading platform Talos closed a $45M Series B extension, bringing total B round to $150M at a ~$1.5B valuation. Investors include Robinhood, a16z Crypto, BNY, Fidelity. The firm offers trade execution and risk tools for professional investors.
Bitcoin has fallen below $60,000 for the first time since September, turning that level into a key near-term threshold. Traders are also watching the 200-week moving average at $62,243 and upcoming US PCE inflation data.
