Governments Are Holding Less Bitcoin This Year. Two Are Buying. I find government wallets oddly fascinating, because they move for reasons that have nothing to do with charts. 🏛️ Tracked state holdings slipped from 647,231 $BTC at the start of 2026 to 645,596, a drop of 1,635 coins. Bhutan saw the sharpest drop, from 5,984 BTC to just 518. The leaderboard barely changed. The US still leads with 328,372 BTC, then China with 190,000, the UK with 61,245, Ukraine with 46,351 and El Salvador with 7,803. Only Kazakhstan and El Salvador added to their stacks this year. Here’s the nuance I appreciate. Smaller tracked balances don’t automatically mean coins were sold, since some may simply sit in wallets nobody’s watching. Still, the US moved 833.6 BTC worth $71.6 million to Coinbase Prime on Oct. 7, and the Coinbase Premium is deeply negative, so US demand looks softer than on Binance. 🔍 Even so, I don’t read this as panic. Spot ETFs have lost $278.37 million in October after a $2.65 billion September, yet NUPL has climbed back to about 0.35 from near 0.10 in early summer. Holders are in profit, and that usually breeds patience more than fear. 🌙 #BTC Price Analysis# #Bitcoin Price Prediction: What is Bitcoins next move?#