Glassnode: Only 10% of 119,000 Dormant BTC Reached Exchanges After Coldcard Incident

Bitcoin continued to trade within a narrow range despite record highs in global equities and gold, with market volatility remaining at historically low levels, according to Glassnode.

The analytics firm said roughly 119,000 BTC that had remained dormant for more than a year moved over a three-day period following a Coldcard wallet vulnerability that resulted in the theft of about 594 BTC. Only 10% of the transferred coins reached exchanges, suggesting the activity reflected wallet migration rather than widespread selling.

Glassnode also reported that U.S. spot Bitcoin exchange-traded funds (ETFs) recorded net outflows of approximately 65,800 BTC in June. At the same time, call-option implied volatility declined to a record low of about 23%.

Bitcoin was trading at $64,686 at the time of writing, up 2.8% over the past 30 days.

Source: Glassnode