Bhutan’s government has transferred 300 Bitcoin worth about $19.3 million to a newly created wallet, extending a recent run of on-chain movements tied to the country’s state-linked digital asset reserves. The transfer does not by itself confirm a sale, but it has drawn market attention because government-linked wallets were reported to have sold more than $43 million in Bitcoin in early July, following an earlier 66 Bitcoin deposit to Binance last month worth about $4.12 million. Bhutan is one of the few governments actively managing Bitcoin as part of a sovereign wealth strategy, with Druk Holding and Investments involved in mining and accumulation since 2019 using the country’s hydropower resources. The latest move also comes as Bitcoin trades near a closely watched resistance area around $63,000 to $65,000. Analyst Ali Martinez highlighted $63,111 as an important on-chain level based on Glassnode data showing about 623,000 BTC previously changed hands there, a concentration that could create selling pressure as holders approach their cost basis. Martinez also said miners sold 1,648 Bitcoin over the past 10 days, another factor traders are monitoring as BTC changed hands at $64,768 at the time of writing.