- Bhutan moved 319 BTC as miners Riot and Marathon increased Bitcoin selling.
- Institutions bought heavily, Metaplanet added 5,000 BTC, and Strategy added 4,871 BTC.
- CryptoQuant notes miner selling balanced by institutional accumulation supporting Bitcoin stability.
Large players moved thousands of Bitcoin this week as Bhutan and miners distributed holdings while institutions accumulated aggressively. Bitcoin also jumped about 4% after the U.S.–Iran ceasefire, reclaiming the $69.4K level. According to CryptoQuant data, this shift reflects mixed flows but strengthening bullish momentum.
Governments and Miners Start Distributing Bitcoin
The Royal Government of Bhutan transferred 319 BTC, likely preparing to sell. This follows another 1,324 BTC moved last month. At the same time, major mining firms are also reducing exposure.
Riot Platforms sold 1,000 BTC on April 6–7, bringing total 2026 sales to 4,068 BTC.
Source: Cryptoquant
Marathon Digital moved roughly 620 BTC and confirmed selling 15,133 BTC worth around $1.1 billion between March 4 and March 25.
CryptoQuant highlights that rising miner outflows typically increase short-term selling pressure, especially when prices approach key resistance levels. This suggests miners are taking advantage of recent price strength.
Institutions Continue Heavy Accumulation
While some players are selling, others are aggressively buying. Metaplanet added 5,000 BTC, increasing total holdings to 40,177 BTC.
Strategy also resumed purchases, adding 4,871 BTC after a short pause. The company has deployed around $7.6 billion into Bitcoin during 2026.
Meanwhile, Bitmine expanded treasury exposure, adding both Bitcoin and Ethereum. The firm accumulated around 45,000 BTC and staked approximately 77,000 ETH within one week, showing strong institutional conviction.
This creates a tug-of-war between selling from miners and accumulation from long-term buyers.
Ceasefire Sparks Bitcoin and Ethereum Rally
Bitcoin and Ethereum rallied sharply following President Trump’s announcement of a two-week ceasefire. BTC rose about 4%, while ETH gained roughly 6% within 24 hours.
The move was supported by derivatives markets. Open interest increased by $2.1 billion for Bitcoin and $2.2 billion for Ethereum, showing new long positions entering the market.
The Taker Buy-Sell ratio also moved above 1.0, indicating stronger buying pressure. Additionally, the Coinbase Premium Index turned positive, suggesting renewed U.S. demand.
Source: Cryptoquant
Bitcoin Reclaims Key Level
Bitcoin broke above the Traders’ Lower Realized Price around $69.4K, flipping resistance into support. According to CryptoQuant, holding this level increases the probability of a move toward $79K.
If accumulation continues and selling pressure fades, the next test could confirm a broader structural recovery.
Related: CLARITY Act Gains Backing From Crypto’s Biggest Voices
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