A dormant whale moved 250 BTC from Gemini, marking $39M in gains and signaling renewed long-term conviction in Bitcoin.
Bhutan disclosed 12,062 BTC holdings worth $1.27B, spotlighting sovereign-level trust in Bitcoin as a hard digital reserve.
Bitcoin eyes a $310K cycle top as MVRV Z-Score holds at 2.5, with TrendPulse momentum fueling a push beyond $ 104.8 K.
A dormant Bitcoin whale has resurfaced, transferring 250 BTC, valued at $26.37 million, from Gemini after two years of inactivity. This move has reignited speculation over deep-pocketed entities re-entering the market during a bullish cycle. The whale now holds 750 BTC worth $79.19 million, showing a floating profit of over $39 million.
https://twitter.com/OnchainLens/status/1931543029741203777
According to a post by Onchain Lens, the same wallet previously moved 500 BTC from Gemini two years ago when Bitcoin was just $27,400. Both transactions were sent to the same address, suggesting this is either an OTC desk, a cold storage setup, or a high-trust institutional wallet. This repeated use implies deliberate planning and strategic consolidation.
With Bitcoin now trading above $105,000, the scale and timing of this whale move signal long-term conviction. This reflects a shift away from speculative short-term activity and toward larger, more deliberate capital deployment.
Bhutan Reveals $1.27B Bitcoin Strategy
Another strong institutional signal emerged from the Royal Government of Bhutan, which publicly disclosed a $1.274 billion digital portfolio. Bitcoin dominates this holding with 12,062 BTC, now making up 99.7% of the country’s crypto reserves. The portfolio rose 0.71% in value today as BTC climbed higher.
Other assets in Bhutan’s wallet include Ethereum (656 ETH worth $1.65M) and micro-cap tokens like PHIL, LNQ, and APU. Despite this diversification, their share is minuscule, underscoring a focus on Bitcoin as a long-term hedge. The nation’s positioning reflects a sovereign-level strategy of accumulating hard digital assets with a finite supply.
This move further validates Bitcoin as an institutional store of value. As more sovereign players prioritize BTC over traditional reserves, the circulating supply continues to tighten—a highly bullish setup for price action.
Models Point Toward Higher Highs
Ongoing on-chain metrics also support the current macro uptrend. The CryptoBirb MVRV Z-Score model shows Bitcoin trading at a moderate +2.5 level, with projections pointing to a potential $310,000 cycle top. Historically, Z-Scores above 7 align with major market tops, offering room for further upside.
Bitcoin needs to close above $104.8K to maintain short-term bullish momentum. With TrendPulse currently above 0.9, momentum remains aggressive. Market sentiment shows a wave of bullish energy preparing to drive BTC higher, though caution still lingers among late buyers.
The post Bitcoin Update: Whale and Bhutan Send $1.3B Signal—MVRV Model Points to $310K Top appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
