According to @OnchainLens, the Royal Government of Bhutan has transferred 519.7 BTC, valued at $36.75 million, to two wallets, with one of them reportedly linked to QCP Capital. These significant Bitcoin movements could hint at capital reallocation or trading activities involving institutional entities.

According to @OnchainLens, the Royal Government of Bhutan has transferred 20.5 BTC (approximately $1.52 million) to QCP Capital, a Singapore-based trading firm. Additionally, 1.02 BTC ($75,900) was sent to a new wallet, potentially signaling further movements. This activity may signify strategic asset management or trading operations by Bhutan.

According to @OnchainLens, QCP Capital deposited 400 BTC valued at $35.7M and 200 ETH valued at $597K into Binance on Dec 26, 2025, based on Arkham Intelligence’s labeled entity data; source: Onchain Lens; Arkham Intelligence. The combined transfer value is about $36.3M at the reported prices, marking a whale-sized exchange inflow that is relevant for traders monitoring centralized exchange liquidity; source: Onchain Lens; Arkham Intelligence.

According to @OnchainLens, the Royal Government of Bhutan transferred 175.44 ETH, valued around USD 497,000 at the time, to another wallet, with the destination labeled as likely linked to QCP Capital by Arkham Intelligence (source: Onchain Lens on X https://x.com/OnchainLens/status/1995414396626141529; Arkham Intelligence entity Druk Holding and Investments https://intel.arkm.com/explorer/entity/druk-holding-investments). For traders, tracking subsequent transactions from the receiving address and other Arkham-labeled related wallets can provide visibility into near-term ETH on-chain flows following this transfer (source: Arkham Intelligence address and entity pages https://intel.arkm.com/explorer/entity/druk-holding-investments; Onchain Lens on X https://x.com/OnchainLens/status/1995414396626141529).

According to @OnchainLens, an on-chain wallet attributed via Arkham Intelligence to Bhutan’s Royal Government transferred 160.35 ETH (about $483,000) to QCP Capital, with the author noting that more deposits are likely to follow (source: @OnchainLens X post; Arkham Intelligence Druk Holding & Investments entity page). The author raises but does not confirm whether this represents OTC selling or another treasury action, leaving the transaction purpose unverified (source: @OnchainLens X post). Traders can verify subsequent flows by monitoring the Arkham Intelligence entity page linked by the author to assess ongoing transfer cadence (source: Arkham Intelligence entity page referenced by @OnchainLens).

According to the source, BTC pushed above $91,000 as traders priced an 85% probability of a December Federal Reserve rate cut, a move that coincided with roughly $241 million in crypto short liquidations (source: QCP Capital). The breakout was attributed to the macro repricing in rate expectations, underscoring a short-squeeze driven bid in BTC and broader crypto derivatives (source: QCP Capital).

According to the source, QCP Capital says improving risk sentiment is driving Bitcoin (BTC) toward a retest of the $90,000 level, with risk-on flows underpinning recent strength; source: QCP Capital. QCP Capital highlights the $90,000 retest as a key area for near-term momentum assessment by traders; source: QCP Capital.

According to @CoinMarketCap, QCP Capital states financial markets are in a late-cycle phase and are not facing an immediate recession. Source: CoinMarketCap (Twitter), citing QCP Capital, Nov 20, 2025. QCP Capital adds that Bitcoin is becoming increasingly sensitive to broader macro shifts, signaling higher responsiveness to data like inflation, interest rates, and the US dollar. Source: CoinMarketCap (Twitter), citing QCP Capital, Nov 20, 2025.

According to the source, QCP Capital states that crypto markets are experiencing a short-term reprieve but that material risks still remain for participants, signaling near-term stabilization without removing downside threats; source: QCP Capital.