Arkham Intelligence says Bhutan moved about $11 million in Bitcoin from wallets tied to its sovereign holdings, following a roughly $7 million BTC sale through QCP Capital about a month earlier.
Bhutan’s Druk Holding & Investments has sold more than $110 million in Bitcoin this year, shrinking its sovereign stash from about 13,000 BTC at peak to roughly 5,400 BTC. On-chain data also shows no inflow above $100,000 for over a year.
Ethereum’s ratio against bitcoin is drawing fresh attention after a 31% decline placed it in the same drawdown range that appeared before the last major crypto bull run.
Bitcoin climbed to $63,450 in thin weekend trading, while total crypto liquidations reached $167 million. Traders are now watching whether BTC can hold the 200-week SMA near $62,700.
Bitcoin held above $61,000 after weak U.S. nonfarm payrolls eased rate-hike pressure. U.S. spot Bitcoin ETFs saw about $222 million to $224 million in net inflows, ending a 10-day streak of outflows.
Bitcoin, Ether, XRP, Solana, and DOGE started 2026 with gains as year-end tax selling faded, fresh allocations entered the market, and Venezuela headlines fueled safe-haven demand.
Bitcoin rose above $82,000, yet the 30-day average funding rate for perpetual futures has remained negative for 66 consecutive days, a rare divergence that analysts link to institutional hedging.
Zcash surged nearly 25% to almost $335 after ceasefire news involving the U.S., Israel, and Iran. Its weekly gain reached 33%, while bitcoin climbed back above $72,000. Analysts at QCP said market stability still depends on shipping through the Strait of Hormuz and upcoming CPI data.
