Recent on-chain analysis indicates the Bhutanese government has moved 799.7 BTC, valued at approximately $92.06 million, to two new addresses. On-chain Lens suggests a high probability that these funds will be deposited into Binance. This transaction fuels speculation that Bhutan is continuing to liquidate its Bitcoin holdings. Previous reports show a deposit of 650 BTC into Binance in July, suggesting a consistent selling pattern. While the specific reasons for these sales remain undisclosed, potential motivations could include bolstering national reserves, funding infrastructure projects, or managing financial risks associated with cryptocurrency investments. Further observation of wallet activity will be crucial to confirm Binance deposits and understand Bhutan's long-term Bitcoin strategy. The impact of these sales on the overall BTC market remains to be seen. ```

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