Bitcoin on-chain activity hits 2026 high as 890k BTC moves amid Coldcard hardware wallet attack, with analyst K33 identifying potential market bottom.
Security & Exploits ·
Bitcoin's seven-day active supply reached a 2026 high, with approximately 890,000 BTC moved over the past week, according to analysis tied to a Coldcard hardware wallet security incident. The surge in on-chain movement reflects elevated transaction activity during a period of market stress.
The spike in active supply metrics is typically associated with wallet transfers and repositioning during periods of heightened volatility or uncertainty. K33 analysts identified the elevated activity as consistent with a potential bottoming pattern, suggesting the market dislocation may represent a contrarian signal rather than a continuation of downward pressure.
What remains unclear is the broader scope of the Coldcard incident—how many wallets were affected, the total value at risk, and whether the on-chain movement reflects forced liquidations, voluntary repositioning, or a mix of both. The relationship between this specific technical event and the identified bottoming pattern also warrants closer examination.