The Royal Government of Bhutan holds over 1.2 billion USD in Bitcoin. The recent transaction and speculation around liquidating part of their reserves have increased pressure on the market, with derivatives showing stress and funding rates declining significantly.
At present, Bitcoin is trading at about 116,500 USD, reflecting a 0.85% decrease in recent sessions. Market sentiment indicates a possible short-term pullback as cautious traders begin to reassess their strategies amid broader market volatility.
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