Hupzy (Spot On Chain)|Aug 05, 2026 05:06
The Coldcard hardware wallet hack pushed roughly ๐ณ๐ฎ๐ด๐ ๐๐ง๐ ๐๐ฎ๐น๐น๐ฒ๐๐ to move in a single day โ about 300K above the daily average and a 2-year high for sending activity. Bitcoin Mean Coin Age dropped for the first time this year.
๐๐๐ฝ๐๐ ๐๐ฎ๐ธ๐ฒ: A 2-year high in sending wallets with Mean Coin Age inflecting is a notable on-chain signal, but the direction looks like self-custody rotation โ not exchange deposits for selling. The key watch is whether these funds route to exchanges (bearish) or stay in cold storage (neutral-to-bullish). The Coldcard incident itself underscores self-custody risk.
For BTC traders, the immediate price impact is muted โ this is storage shuffling, not sell pressure. But if exchange inflows spike in coming days as migrated wallets find temporary homes on trading platforms, that flips the read bearish. Watch exchange deposit volumes for confirmation.
https://x.com/ki_young_ju/status/2084866971594830102
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