Cold Storage

A Coldcard firmware vulnerability tied to weak software-based randomness has been linked to three waves of bitcoin sweeps across thousands of addresses. The latest activity is targeting smaller balances and using more complex onchain collection patterns.

A Bitcoin wallet inactive for eight years has moved 5,908 BTC, now worth about $383 million, to a fresh unidentified address. The transfer did not go to an exchange, leaving market participants focused on whether the move reflects custody changes, estate planning, or preparation for an over-the-counter transaction.

Bitcoin and ether held on centralized exchanges have fallen to their lowest levels in years, a condition once treated as a powerful bullish setup. Market structure has changed, however, as ETFs, institutional custody and DeFi now move coins away from exchanges without necessarily removing liquidity from the market.

Bitcoin briefly moved above $67,000 but failed to keep pace with the broader relief rally in stocks and oil. Traders are waiting for the Iran deal to be signed and for the Federal Reserve’s next move before committing to risk.