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US Moves $606K Bitfinex BTC to Coinbase, Mirroring Bhutan's $240M Sell-Off as Bitcoin Holds $75.6K

U.S. authorities transferred 8.196 BTC (~$606K) from the 2016 Bitfinex hack to Coinbase Prime on April 17, sparking comparisons to Bhutan's 2026 outflows of 3,247 BTC (~$240M) via repeated ~250 BTC (~$18M) batches since April 15, leaving ~3,524 BTC with depletion projected by September amid slowing mining. Despite rising exchange deposits, $500M realized profits, and miner costs near $79.5K, Bitcoin rebounded 3% from $73.8K lows to a $76K high, testing $74K-$76K resistance before stabilizing near $75.6K. Sovereign supply risks persist but price resilience suggests mixed near-term momentum.

Category

Bitcoin

Sentiment

Neutral

Event

Institutional flow

Reading time

1 min