Bhutan Transfers $34.5M in Bitcoin to Binance Amid Market Weakness

Bhutan has made another significant transfer of Bitcoin to Binance, moving 533 BTC worth around $34.5 million at the current price.

The move comes as Bitcoin trades below the key level of $65,000, raising concerns about potential selling pressure on the market.

This is not the first time Bhutan has reduced its Bitcoin holdings; in May, the country transferred 90 BTC worth around $7 million to another wallet.

Bhutan's remaining crypto portfolio is valued at approximately $113.7 million and includes a small amount of Ethereum.