Bhutan Bitcoin Transfer Sparks Selloff Talk as BTC Tops $62,500

Bhutan-linked wallets moved 700 BTC worth $43.75 million to Binance on July 4, reigniting trader concerns over potential selling pressure. The transfers, including a 634 BTC tranche, occurred just as Bitcoin reclaimed the $62,000 level and traded near $62,500 amid softer U.S. jobs data and rate-cut expectations. While deposits do not confirm immediate sales, the activity highlights ongoing balance between sovereign supply and macro-driven demand. Bhutan reportedly retains around 1,750 BTC valued at $109.27 million after the move.