Bhutan crazily dumped 2,584 BTC! National-level top escape alert sounded, 77% of reserves evaporated = the smell before the dead cow rots
National-level 'textbook for escaping the top'
Bhutan frantically dumped 2,584 BTC in 40 days, on-chain data shows its reserves plummeted by 77% National-level players never bottom out or escape the top, they just harvest accurately! Case reference: After the German government sold BTC in 2024, Bitcoin plummeted by 37% within three months; sovereign capital withdrawal = signal flare for the death of the bull top!
Miners synchronously 'defect' with solid evidence
All BTC in Bhutan comes from zero-cost mining, even the 'free riders' are urgently cashing out, indicating that the current price of $112,000 far exceeds its intrinsic value! Miner resonance: Global miners' reserves shrank by 1.05 million BTC in six months, miners with production costs < $50,000 are fleeing, while the retail investors are still shouting
Geopolitical capital stands with gold
BTC accounts for over 80% of Bhutan's foreign exchange reserves; now they are massively exchanging for US dollars, essentially betting on dollar hegemony > crypto consensus! Data contradicts: Sovereign funds increased their cryptocurrency holdings by only 0.3% in Q1, with 80% of positions betting on gold; the smart money has already left, leaving retail investors partying at the bull top Bull market trend: 'guys in the game' celebrating at the guillotine
Technical aspect: False breakout lures and slaughterhouse
This morning, BTC broke through a new high of $112,000, but after a rapid fall of $340 million in short positions within four hours, it quickly retreated, a typical 'false breakout washout', resonating with Bhutan's selling to signal a market dump! History repeats: Before the top of $69,000 in 2021, El Salvador announced 'national bottom fishing', actually shielding Wall Street's selling—political good news = concrete mixing with the retail investors!
Sentiment: Leverage madness crushes the spring
Currently, the derivatives long-short ratio is extremely high, retail investors' leverage rate broke 91%, replicating the night before the bull top crash in 2021! Fuel for the top: Trump concept coin TRUMP's market cap soared to $14.5 billion before plummeting 60%, the frenzy of junk assets is the ultimate signal for the end of the bull market!
Level target price trigger conditions and crash risks Conservative $130,000 ETF single-day net inflow > $500 million 30% crash Regular $150,000 Trump signs crypto tax exemption bill 50% halving Aggressive $170,000 Federal Reserve cuts interest rates + escalation of Middle East war 70% bloodbath
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