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🚨 Coldcard activity has surged, but the bigger story may be user migration—not market selling. Current evidence suggests this was a contained seed-lineage issue, where affected firmware generated wallet secrets that were easier to predict. According to Galaxy's Thorn, the BTC linked to three suspected attacker clusters remained in attacker-controlled addresses as of August 2, while smaller stolen amounts have been moving through peel chains and various services. It's important to separate defensive wallet activity from actual selling pressure. A spike in on-chain movement may simply reflect users securing their funds rather than exiting the market. That said, the BTC still held by suspected attackers represents a near-term supply overhang. If those holdings begin moving toward exchanges, they could create additional selling pressure. For now, the key risk isn't user migration—it's what happens with the remaining attacker-controlled inventory. #30YrYieldTopOrStart #USJapanYenIntervention #EarningsWeekAhead #DailyOrbit $BTC $ETH $SNDK