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Bhutan’s Bitcoin sales stir market concerns amid price volatility

Bhutan sells 1,696 BTC, impacts market: Bhutan recently sold 1,696 Bitcoin, amassing about $139 million. This strategic move amidst a price rally illustrates their methodical approach to asset management. The decision sent ripples through the market, prompting speculation about potential price volatility and affecting investor sentiment.

Analysts remain optimistic despite sales: Despite Bhutan’s substantial Bitcoin sale, they retain 11,791 BTC, making them the fourth-largest governmental holder globally. Analysts remain optimistic about Bitcoin’s future prospects, especially looking toward 2025. Current price analysis indicates resistance near $98,003 and support around $96,000, suggesting potential price fluctuations.

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