Summary
- On-chain analytics platform OnChainLens said the Bhutan government transferred 2011.23 Bitcoin (BTC) to a new wallet.
- The size of the transfer is approximately $230 million, raising the possibility of an exchange deposit.
- OnChainLens analyzed that if the transfer leads to an exchange deposit, it could be for the purpose of selling.
On the 29th (local time), according to on-chain analytics platform OnChainLens, the Bhutan government transferred 2011.23 Bitcoin (BTC) to a new wallet. This amounts to approximately $230 million, raising the possibility of a deposit to an exchange.
OnChainLens analyzed that if the transfer leads to an exchange deposit, it could be for the purpose of selling. Generally, large movements of Bitcoin by governments or institutions are often interpreted by market participants as selling pressure.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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