The Royal Government of Bhutan just sent out another 123.7 $BTC a few hours ago -- roughly $8.5M slipping out of their wallets.

But dig out a bit, and the pattern starts to show. Over the past two days, Bhutan has moved a total of 643 #BTC around $45M in value. That’s not random wallet activity… that’s deliberate, paced transfers. Not rushed, not panicked… more like calculated steps.

Hard to say if it’s redistribution, selling, or something else behind the scenes -- but when a government-linked wallet starts moving this kind of size, people notice… even if it happens quietly.