Coldcard fallout shows up onchain as 210,000 bitcoin leaves old wallets Roughly 200,000 bitcoin have moved from long-term holder wallets in the past week, suggesting a possible shift in custody rather than conventional selling – Long-term holder supply has fallen by roughly…
0,000 bitcoin, from nearly 15 million BTC to approximately 14.7 million BTC. – The movement comes with bitcoin almost 50% below its record high, unlike previous distribution waves near market peaks. – The movement is linked to the Coldcard incident, with users transferring bitcoin to newly generated wallets or regulated custody services. The fallout from the Coldcard security breach is now surfacing on-chain
According to Glassnode data, roughly 210,000 BTC have moved out of long-term holder (LTH) wallets over the past week, the largest decline since December 2024, when bitcoin approached $100,000 for the first time. Glassnode classifies long-term holders, or LTHs, as entities whose coins have remained dormant for approximately 155 days, or just over five months. This cohort is often considered the market’s “smart money” because its members tend to hold through short-term volatility.
Long-term holder supply now stands at approximately 14.7 million BTC. Before the Coldcard incident, it was just under 15 million BTC, close to an all-time high. Historically, heavy spending by long-term holders has coincided with periods of market strength or tops.