Onchain Lens said the transfer moved Bitcoin through two wallet addresses, underscoring continued market attention on sovereign-linked crypto activity.
Bhutan transferred 700 BTC worth $43.75 million to Binance, with the movement tracked by Onchain Lens. The transaction was routed through the addresses bc1qk0...ajszl and bc1q3x...kn09u. Large transfers by government-linked holders are closely watched because deposits to exchanges can signal potential selling pressure, though the transfer alone does not confirm any sale.