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Sign InThe Royal Government of Bhutan has significantly reduced its Bitcoin holdings, liquidating approximately 66% of its digital treasury throughout 2026. According to data from Arkham Intelligence, the nation-state has sold a total of $152 million worth of BTC this year through systematic sell-offs. The most recent transaction involved the transfer of 519.7 BTC, valued at roughly $36.75 million, on Wednesday. These consistent selling activities have contributed to notable downward price pressure on Bitcoin over the last few months. Analysts characterize these moves as part of a broader trend among major holders to secure profits on their holdings. This strategic liquidation marks a major shift for one of the world's most prominent sovereign holders of crypto assets, potentially impacting sentiment for the BTC/USD pair.